This Was the First Manufacturer to Invest in Foldable Phones. It Just Declared Bankruptcy

Although foldable devices may seem like a recent trend, the first commercial foldable phone was actually introduced in 2018 by Royole, a Chinese company founded in 2012 by electrical engineering student Bill Liu.

The Royole FlexPai cost around $1,300 at launch and featured a 7.8-inch screen that could fold 180 degrees horizontally. However, according to the Chinese tech outlet IT Home, the company recently filed for bankruptcy.

The Shenzhen Intermediate People’s Court is said to have determined that Royole Display is unable to pay its overdue debts, and its assets are insufficient to meet these obligations. As a result, the Chinese court has declared the company bankrupt in accordance with the country’s Enterprise Bankruptcy Law.

Royole has been effectively inactive for years, failing to launch any new products while competitors like Samsung, Honor, and Huawei experienced booming sales of their foldable phones.

Despite its initial success, the company couldn’t maintain buyer interest, even in its home market. Additionally, it had no plans to expand into other territories.

In 2021, Royole canceled its initial public offering due to financial difficulties. This reduced its production of foldable panels, and the company also faced challenges in paying its suppliers and employees.

Being the first doesn’t guarantee success, and Royole serves as a prime example.

Image | Royole

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