Electronics Production |
Plastic Logic kills off e-reader before launch
Plastic Logic is revising its product strategy and plans to shift its focus to a second-generation e-reader product. The company has cancelled its QUE product (debuted at CES in January 2010 and planned to ship earlier this year).
"We recognize the market has dramatically changed, and with the product delays we have experienced, it no longer make sense for us to move forward with our first generation electronic reading product," said Plastic Logic CEO Richard Archuleta. "This was a hard decision, but is the best one for our company, our investors and our customers."
The US-headquartered company operates a manufacturing facility in Dresden, Germany.
Rumours suggest that Russian giant Rosnano is interested in taking over the company, provided that all manufacturing would relocate to Russia. So far, both companies have declined to comment.
