In 2022, we reported that US- and China-based OLED display maker Royole is in financial problems. The company did not manage to raise funds, and started laying-off many of its employees, following several months it did not pay any wages. The company is no longer in business.
Earlier today Royle started a public auction to sell off its assets. The company is using he public Taobao's Ali Asset Platform, and have asked a starting price of 1.23 billion yuan (almost $170 million USD). As of now, there are no bids for the asset, which includes 12 real estate properties and the OLED production equipment. If the auction fails, Royole will likely launch another auction with a reduced starting price.
Posted: Dec 14,2024 by Ron Mertens
