What They Say
Caixin reported that Chinese flexible OLED maker, Royole Corp, has been delaying paying staff salaries after withdrawing its IPO planned for earlier this year. Staff were told that the pay due on the 10th October for September were made only in part and that October salaries would be delayed to the end of November.
What We Think
Oh, dear. Once you stop paying salaries, it’s very close to being game over. It’s really hard to be a start-up and compete with established giants like Samsung, especially when you are the cutting (bleeding?) edge of technology, even if you seem to have deep pockets. The firm’s ambition was high and it has achieved a lot in a short time, but, it seems, not enough. (BR)
