Royole Technologies, the Chinese company behind the world’s first foldable smartphone, has been declared bankrupt. Shenzhen Municipal Intermediate People’s Court confirmed that the company succumbed to mounting debts despite its pioneering innovations. For all those unaware, Royole Technologies was founded in 2012.
It revolutionized the tech landscape with its debut product, the , in 2018. This groundbreaking device boasted a 7.8-inch AMOLED folding display, distinguishing it from today’s foldables by having its screen fold outward.
Royole got the title of “first mover” in the foldable smartphone market. However, subsequent advancements from industry giants like overshadowed it. Royole was not limited to foldable smartphones only.
Rather, the company achieved several groundbreaking innovations across industries. For instance, it created the world’s thinnest full-color flexible display, underlining its expertise in advanced display technology. The company also introduced a curved car dashboard based on flexible electronics and collaborated with Louis Vuitton to incorporate flexible displays into luxury handbags.
Moreover, it created a smart writing pad powered by flexible sensors. Despite its innovations, Royole floundered to maintain financial stability. The company failed to turn its technological achievements into long-term profitability.
The FlexPai was innovative but faced criticism for its . It lacks refinement compared to later models from Samsung and Huawei.