A light emitting device is provided which is capable of displaying in desired colors stably by controlling a change in luminance of OLED when an organic light emitting layer is degraded or there is a change in temperature of the surroundings. A reference value for the amount of current flowing into a pixel portion is calculated from data of a video signal. Then, the pixel portion displays an image in accordance with the data of the video signal and the drive current at the time is measured for all of OLEDs in the pixel portion. The two voltage values supplied from a variable power supply to the pixel portion are corrected such that the measured drive current approaches the reference value. With the above structure, lowering of luminance which accompanies degradation of an organic light emitting layer is prevented and a clear image can be displayed as a result.