Royole Flexpai, the world’s first commercially available foldable smartphone, is facing a financial crisis. Around 50 employees of the company staged protest demonstrations due to non-payment of wages since November 2022. The employees are demanding resolution and prompt payment of their arrears. The company claims significant losses and is only able to pay social security deposits. Despite seeking help from the government and investors, the company’s situation has not improved. Royole Flexpai, known for its flexible display technology, was a competitor to Samsung Display’s monopoly.
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Chinese foldable phone maker Royole hit by employee protests over unpaid wages
Royole Flexpai, the world’s first commercially available foldable smartphone, is facing a financial crisis. Around 50 employees of the company staged protest demonstrations due to non-payment of wages since November 2022. The employees are demanding resolution and prompt payment of their arrears. The company claims significant losses and is only able to pay social security deposits. Despite seeking help from the government and investors, the company’s situation has not improved. Royole Flexpai, known for its flexible display technology, was a competitor to Samsung Display’s monopoly.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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