Former flexible display unicorn Royole Technology has recently been plunged into a new crisis, after 37 million yuan ($5.3 million) in assets were frozen by a local court.
Flexible display maker Royole Corporation started a round of layoffs on Wednesday. This is the first round of large-scale layoffs at the company since it fell into a capital shortage crisis.
A number of employees from Royole, a flexible display developer in China, told local media outlet on Thursday that, as of Friday night, they had received all the wages they were previously owed.
Shenzhen-based rollable display developer Royole, which once had a valuation of more than 50 billion yuan ($7.8 billion), was reported to have a shortage of funds and faced arrears in its employees' salaries.
As part of the agreement, CIOT will purchase flexible display screens, sensors, software and hardware integration solutions from Royole Corporation in batches for the whole line of commercial robot products of the company.
Chinese flexible display maker Royole has delayed paying salaries to employees for months after the money-losing company ditched its initial public offering (IPO) plan in Shanghai's Nasdaq-like STAR Market in February.
Royole Corporation is seeking a US IPO, aiming to raise $1 billion, a person familiar with the situation told Leidi.com.
Here’s a list of the best foldable smartphones on the market as well as some upcoming ones.
A foldable-screen smartphone has been talked about for quite some time now. According to digitaltrends, South Korean manufacturer Samsung has been working on foldable displays for years and Galaxy X has been involved in discussions.