We developed flexible VA LCDs with high electro-optical performance and thermal reliability for flexible display applications. It was achieved by applying the precise control of phase separation, forming well defined cylindrical liquid crystal domains surrounded by polymer matrix. The LC domains have uniform size and the LC molecules inside the domains were well aligned through the contact to vertical alignment layers coated on plastic substrates, so that low driving voltage, high transmittance and high contrast ratio were achieved. We fabricated 5-inch flexible VA LCD panel, showing good electro-optical properties and high mechanical stability.