Financial difficulty

Several media reported that Royole has been facing a financial problem since the end of 2021. Royole is a flexible display startup with a major manufacturing plant in Shenzhen, China. In fact, the company has received back wages owed for nearly six months, according to a local report.

However, the back pay was not extended to employees who have tried to sue their employer for non-payment of wages. Also, an employee had been told that employees who withdrew lawsuits would be paid before those who do not.

It was revealed at the beginning of April that Royole had stopped paying wages. In addition, the company put employees on vacation and only a small part of its production line was in operation.

Royole was founded in 2012 and has raised more than $1 billion since then. The company achieved a major coup in 2018 when it beat Apple and Samsung to the development of a folding display for smartphones.

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