The bankruptcy of the manufacturer of the world’s first folding phone

Royal Technologies, a pioneer in the field of foldable smartphones, has declared bankruptcy due to financial problems. In 2018, this Chinese company unveiled the world’s first commercial folding phone, the Royal FlexP, and by doing so created a revolution in the mobile world. However, it seems that this initial success could not save the company from bankruptcy.

According to Tekna Technology Media Mobile News Service and according to recent reports, a court in China, after a detailed examination of the company’s assets and liabilities, concluded that Royol is unable to pay its debts and its assets are not enough to cover all debts.

In addition to FlexP, Royal Technologies had other achievements in the field of flexible display technology. Among these achievements, we can mention the production of the world’s thinnest flexible color display, the first curved car dashboard with flexible display technology, and the first smart writing pad using flexible sensors. Also, the company had collaborated with the Louis Vuitton brand to produce smart handbags with flexible displays.

Despite these great innovations and collaborations, Royale could not survive in the competitive smartphone market and was eventually forced to declare bankruptcy. This news shows that innovation is not the only factor in the success of a company and other factors such as financial management and marketing also play a very important role. To view other news, refer to Tekna media technology news page.