World’s First Foldable Phone Maker Now out of Business

Royole Technologies, a little-known Chinese OEM, launched the world’s first commercially available foldable smartphone back in 2018.

However, despite its early lead and innovative products, the company struggled financially, leading to its demise.

Royole To Declare Bankruptcy 

According to IT Home, Finance Sina, and East Money, an announcement from the Shenzhen Municipal Intermediate People’s Court stated that, based on the investigation of Royole’s current assets and liabilities, it can be determined that the company is unable to pay its debts when due and that its assets are insufficient to cover all debts. 

Therefore, the court ruled on November 18 to declare Royole Technology bankrupt.

This unfortunately marks the end of a major player in the foldable display technology market, especially considering Royole pioneered in this field.

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About Royole Technologies 

Founded in 2012, Royole invested heavily in foldable display technology. Its foldable phone, the Royole FlexPai, featured a single 7.8-inch 1440p AMOLED display with a 4:3 aspect ratio. 

Unlike modern foldables, the FlexPai had its folding display on the outside with a chunky bezel on one side housing the front-facing camera and sensors.

In 2020, Royole Technologies ranked 12th on the 2020 China New Economy Unicorn 200 list, with a valuation of US$6 billion. The company had attempted to list on the STAR Market but withdrew its listing application in February 2021.

According to DiGiTimes Asia, Royole was the first to market with a foldable phone; it hasn’t gained the same level of mainstream popularity as later models from companies like Samsung and Huawei. 

However, their early entry into the market and continuous innovation in flexible display technology have solidified their position as a key player in the foldable device industry.