The world’s first foldable phone maker is now out of business

[phillynews215]

• Royole Technologies, the company behind the world’s first foldable phone, has been declared bankrupt.
• Its first phone, the Royole FlexPai, launched in 2018 and featured a 7.8-inch 1440p flexible display.

Although Samsung, Motorola, Google, OnePlus, OPPO, and HONOR currently control the lion’s share of foldable phone sales worldwide, none of these brands were the first to bring a foldable smartphone to the market. Royole Technologies, a little-known Chinese OEM, launched the world’s first commercially available foldable smartphone back in 2018. Sadly, the headstart didn’t do much to help the company stay in business.

According to a recent report from IT Home (via Digitimes Asia), Royole Technologies was declared bankrupt following an investigation of its current assets and liabilities. An announcement from the Shenzhen Municipal Intermediate People’s Court states that the company could not clear its debts, and its assets were insufficient to cover all debts.




More...