Last month we updated that Royole is in financial problems, and that it needs a new injection of cash in order to continue its operation. A new update from China suggests that some employees did not get paid for over 5 months. This has changed in the past week, and Royole is now paying the salaries.
But Royole's financial woes are likely not over. According to this new report, from 2017 to 2020, the company's revenues amounted to only $77 million, while its loss reached almost $500 million. The report also detailed Royole production: 7,748 units in 2018, 314,000 units in 2019 and 48,600 in the first half of 2020. Actual shipments were much lower.
These are very disappointing numbers for Royole. It is hoped that the company will raise funds soon and will be able to finally find mass customers for its displays. For more information on Royole's OLED display technology and history, see here.
