In this talk, after introducing some background about dynamical system, neural network and delay differential equation, we consider a ring neural network of identical elements with time delayed, nearest neighbor coupling. We give some global and local stability results and show how the presence of time delay allows for mode interactions leading to the coexistence of different oscillation patterns. The Hopf and equivariant Hopf bifurcations are analyzed. Regarding the coupling strengths as bifurcation parameters, we obtain codimension one bifurcation and the interaction of each critical bifurcations. Concrete formulae for the normal form coefficients are derived via the center manifold reduction that provide detailed information about the bifurcation and stability of various bifurcated solutions.