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Flexible e-Reader Manufacturer Readius Files For Bankruptcy

Polymer Vision, a Millbrook-based company that pioneered innovative screens that can roll-up like a paper, has folded at the expense of around 50 jobs in Southampton, according to the reports from This Is Hampshire.

Prominently known for its e-paper display Readius, Polymer Vision has reportedly filed for protection under Chapter 11 bankruptcy and shut down its offices at the Millbrook Technology Campus near Southampton.

The company was all set to come up with the world’s first ever commercially available flexible screen until its Dutch parent company grappled by the ongoing recessionary trend.

The portable media device-cum-e-reader, the Readius was a cutting edge device in that it employed a flexible E-Ink display that enabled the device to be folded up to become smaller and portable.

The Readius has been displayed as a working prototype form back in 2007, and it grabbed the eyeballs of gadget enthusiasts in Mobile World Congress in 2008, with its release was due in fall of 2008.

The company’s chief exec Karl McGoldrick asserted back in April that supply chain for the product had been put in place, but the product launch had been on hold since 2008 because of financial constraints.

Besides, McGoldrick confirmed that the firm has filed for bankruptcy, but asserted that it wouldn’t ditch the product. Citing the same, he quoted in an email to CNet news; “We're working hard to find new investors to take over and re-start and get our technology and product into the market, where it should be”.

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Our Comments

The law of the jungle strikes again and the battle for the survival of the fittest continues. Readius's demise happens as demand for e-reader is on the rise thanks to devices like Sony's Ebook reader or Amazon's Kindle. Still, it looks as if it was too early to launch such a product even if it was a potentially viable one.

Related Links

Report: Flexible e-reader, the Readius, is dead (opens in new tab)

(CNet)

50 jobs go at Polymer Vision (opens in new tab)

(This Is Hampshire)

Polymer Vision Shuts Down (opens in new tab)

(Ubergizmo)

E-paper Device Maker Folds (opens in new tab)

(Photonics)

The Readius isn't the newspaper of the future after all (opens in new tab)

(Telegraph)

E-reader maker Polymer Vision goes under (opens in new tab)

(ZDNet)

Désiré Athow
Désiré Athow

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.