Last month we reported that bankrupt US- and China-based OLED display maker Royole started a public auction to sell off its assets on the public Taobao's Ali Asset Platform, and have asked a starting price $170 million.
Following low interest, the company had to reduce the asking price, and it is now reported that it has managed to find a buyer, for $69 million USD. We do not know the buyer's identity, but it is speculated that it is HKC.
The assets that were auctioned were mainly equipment and machines, and also land use rights of real estate and factory buildings. In total, the auction included 1,961 equipment items, including automatic dispensing machines, lamination systems, de-mura systems, testing and measurement systems, CVD systems and more. The factories that were auctioned includes 12 buildings in Shenzhen, with a total area of 223,202 square meters.
HKC is one of the world's leading LC makers, with an estimated market share of around 10% of the global TV panel market (and around 6.5% of the global display industry as a whole). The company operates three LCD production sites in Chongqing, Chuzhou and Mianyang.
In 2023, HKC was mentioned as a possible partner of JDI's China eLEAP AMOLED fab, but that project was later cancelled. It will be interesting to know whether HKC aims to start producing AMOLEDs using Royole's technology and machines.
HKC is also producing OLED monitors, based on QD-OLED panels produced by SDC. The company's latest such monitor is the GS27QK, a gaming monitor introduced in late 2024 that is based on a 27" 240Hz 2560x1440 QD-OLED panel.
Royole started mass producing flexible OLED displays back in 2018 at its fab in Shenzhen. Royole developed innovative OLED technologies and devices, and demonstrated several innovative displays, but it seemed it did not manage to find large actual customers for its displays.
Beyond displays, Royole also developed several devices. In 2018, Royole launched the world's first foldable OLED device - the FlexPai phone/tablet. The FlexPai had a 7.8" 1920x1440 (308 PPI) AMOLED display, when unfolded, The display folded outwards, and when folded the device has three different displays (front, back and spine). This was a 'developer product' that never reached mass production. In 2020 Royole introduced the FlexPai 2 5G, with a 7.8-inch 1920x1440 OLED. This device was also not produced in mass volume.
The company also introduced an OLED VR HMD, and an E Ink tablet. The company announced several prototypes and concept devices, and has recently teamed up with Airbus to develop a digital inflight magazine - that makes use of a thin flexible OLED panel. These are all great demonstration of its flexible technology and production capabilities - but it seems as if the company did not manage to find actual mass applications for its display products.
