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Royole Corporation in Midst of Building (USD) $1.7B Production Campus
FREMONT, Calif., Jan. 3, 2017 /PRNewswire/-- Royole Corporation, a global pioneer and innovator of advanced flexible displays, flexible sensors, and smart device electronics, announced that its new production campus in Shenzhen, China will be completed and fully operational during Q3 2017. The facility, encompassing 1.1 million square feet of land, will be used primarily for mass production of its flexible display and flexible sensor lines as well as R&D. It costs (USD) $1.7 billion, and will be Royole's second production facility in China.
Royole's company founder, Dr. Bill Liu, will introduce the company and its new products including Royole Moon, a new 3D virtual mobile theater device, at the Power Session press event Wednesday, January 4, 2017 at 12:00pm in the Mandalay Bay South Convention Center, Level 3, Palm A ballroom. In addition, Dr. Liu will introduce the company's Chief Creative Officer, global R&B music icon, 5-time Grammy Award nominee, and multi-platinum recording artist, Akon, who will discuss his company involvement and special edition Moon unit.
At CES (LVCC, South Hall 2, #26002), Royole will also be showing the first smartphone prototype, called FlexPhone, that uses the company's proprietary super-thin full color flexible display, allowing the device to be wrapped around the user's wrist. The FlexPhone is proof of concept for the kinds of products that Royole will be able to mass produce from its production campus.
"We began project planning and construction on this new production facility in Q4 2015," said Royole founder and CEO Dr. Bill Liu. "When it opens mid next year, we will significantly increase the mass production capacity of our flexible display lines for both our business clients and our own consumer devices. The new campus joins a smaller existing facility that we use to produce flexible display modules, flexible sensors and our 3D virtual mobile theater wearable device, Moon, that features simulation of an 800-inch 3D curved screen, top-quality noise-cancelling headphones, and the world's first foldable design."
The company said the new facility will have an estimated annual output capacity of over 50-million pieces of flexible displays, worth multi-billion dollars. It says Royole uses both cash-on-hand and newly raised funding from financial firms and banks to pay for the new site, which is located in the Longgang district of Shenzhen, China. Royole currently employs a truly international workforce with over 700 well-educated employees coming from 12 different countries.
Royole's flexible displays and flexible sensors could be widely used in wearable products, mobile devices, consumer electronics, vehicles, flights, smart home appliances, sportswear, fashion, and many other areas. It is quickly becoming a highly important industry with potential market revenue of hundreds of billions of dollars in the next 5-10 years based on consulting and research firms such as IHS Markit.
In July 2014, Royole unveiled the world's thinnest full-color flexible display that can be bent or rolled. At about 0.01 mm, the display is less than one-fifth the diameter of a human hair.
About Royole Corporation
Royole was founded in Fremont, California, Hong Kong and Shenzhen China by Stanford engineering graduates in 2012, with the mission to improve the way people interact with and perceive the world. The company creates and manufactures advanced flexible displays, flexible sensors, and smart devices. It also provides IP licenses, services, and solutions for a variety of industries associated with displays and flexible electronics applications. In 2014, it introduced the world's thinnest full-color AMOLED flexible display with a thickness of 0.01mm and a bending radius of 1mm. In 2015, it began mass production of proprietary flexible sensors and flexible electronic devices, and introduced the world's first foldable 3D virtual mobile theater. In 2016, it introduced the world's first curved car dashboard based on flexible electronics at the CES in Las Vegas. It also announced its 1.1-million-square-feet flexible display mass production campus in Shenzhen, China with a total investment of USD $1.7B to be fully operational by mid-2017.
Royole has received many global awards for its technology innovations and fast growth, including CES 2017 Innovation Awards by CTA, the Best of CES 2016 by Thomson Reuters, "5 Under 5" 2015 Most Innovative Startups in China by Scientific American, 2016 Annual Tech & Innovation Award by San Francisco Business Times, and 2015 Top 10 Most Innovative Entrepreneurs in US and China by Forbes. Royole is backed by leading venture capitalists and financial firms, including IDG Capital, CITIC Capital, Knights Investment Group, Co-Stone Capital, Alpha Wealth, Shenzhen Capital Group, and Green Pine Capital. Royole completed series Pre-D funding in October 2016 with a market valuation of USD $3B, making it one of the world's fastest-growing technology start-ups. Royole has offices in Fremont, CA, Hong Kong, and Shenzhen, China. For more information, please visit: www.royole.com.
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SOURCE Royole Corporation
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