Royole Technologies, a once-prominent pioneer in foldable display technology and the creator of the first commercially available foldable smartphone, has declared bankruptcy. The Shenzhen Municipal Intermediate People’s Court ruled on November 18 that Royole and its subsidiaries, Royole Display Technology and Royole Electronics Technology, must undergo bankruptcy liquidation. The decision came after an investigation revealed that the company was unable to pay its debts and had insufficient assets to cover its liabilities.
Despite its early role in foldable technology, the company struggled to maintain market relevance in the face of stiff competition from industry giants like Samsung and Huawei. Its withdrawal from an initial public offering in 2021 was a clear indicator of financial distress, and as time went on, the company launched fewer products, further diminishing its competitive edge.
Although Royole ultimately failed as a business, its contributions to foldable display technology remain significant. Innovations such as the world’s thinnest full-color flexible display and the FlexPai smartphone set a foundation that other companies can build upon.
