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If you do not follow the smartphone sector closely, you may not know that the first foldable smartphone presented to the public was not the Samsung Galaxy Fold. In October, about four months before Samsung unveiled its device, a small Chinese company, Royole, unveiled the FlexPai. Unlike Galaxy Fold and Huawei Mate X, the FlexPai is rough around the edges. The FlexPai price is $ 1,318 for the 128GB storage model and $ 1,469 for the 256GB storage model. That compares to $ 1,980 for the 512GB Galaxy Fold and $ 2,600 for the 512GB Mate X.
According to Bloomberg, Royole is seeking to go public and is seeking funding of $ 1 billion before filing its record for an initial public offering (IPO). In addition to producing the FlexPai, Royole is known for its flexible OLED panels, which means it competes with Samsung and BOE technology. In June, the company commissioned a new 1.5 billion dollar flexible board production unit in Shenzhen.
During the last round of funding, Royole was valued at $ 5 billion. He is looking to increase the new funding to $ 8 billion. Even if he raised the money and eventually became public, Royale's future may not be finished products sold directly to consumers. With phone manufacturers such as Samsung, Huawei, Xiaomi, Oppo, and TCL eventually Apple should launch a foldable phone over the next two years, Royale could focus on its business as a source of flexible displays for other companies.
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