Shenzhen Royole Technologies, or Royole, was established in 2012 and it has sought to lead the market for ‘bendy’ screen phones, despite challenges including shorter battery lives and a lack of supporting apps for its foldable technology. Our first mention was in 2019.
In May 2020, the company closed a $300 million Series F round in May with a valuation of $6 billion, according to the Chinese press. However, total investment in Royole is now about $7 billion, it was reported at the time, and the company has struggled to persuade the mainstream mobile phone brands to adopt its flexible panels. Royole was planning an IPO on Shanghai’s STAR Market in 2021 to fund a further attempt to breakthrough into the wider market. But it then became one of a number of companies to pull its listing plans in February and March, after regulators tightened scrutiny of IPO applicants following the halting of Ant Group’s $37 billion float last November.
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