The embodiment of the application discloses a display module and a terminal device, the display module comprises a foldable heat dissipation structure, a support layer, a back plate and a display panel which are sequentially arranged on the side of the support layer away from the substrate layer, the foldable heat dissipation structure comprises a substrate layer, a
graphite layer and the support layer, the
graphite layer comprises a first part and a second part, the first part comprises a first
lap joint part located in a bending area, the second part comprises a second
lap joint part located in the bending area, the first
lap joint part and the second lap joint part are arranged in a staggered manner in the film thickness direction, the first lap joint part and the second lap joint part are mutually lapped when the foldable heat dissipation structure is unfolded, and the first lap joint part and the second lap joint part are separated from each other when the foldable heat dissipation structure is folded; when the foldable heat dissipation structure is unfolded, the first part and the second part of the
graphite layer are mutually lapped to increase the heat dissipation area, thereby improving the heat dissipation speed and heat dissipation effect of the foldable heat dissipation structure.