Provided is a flexible display apparatus in which flexibility is secured and reliability of products is improved, and a method of manufacturing the same. The flexible display apparatus includes a display panel including a flexible area and a non-flexible area and having one surface and the other surface opposite to the one surface; a protective film attached to the one surface of the display pane; a first adhesive layer interposed between the flexible area of the display panel and the protective film and configured to have a first storage modulus; and a second adhesive layer interposed between the non-flexible area of the display panel and the protective film and configured to have a second storage modulus.