Plastic Logic, a UK based company which pioneered a promising ebook reader that used plastic electronics, has confirmed that it has abandon plans to ship the device, called the proReader to prospective customers.
In a statement, Richard Archuleta, the chief executive of the company, said that Plastic Logic had recognised that the market had changed dramatically and it would no longer make sense for them to release the reader in its current form.
The Que reader has been in gestation for a number of years and had been demoed at the beginning of the year at CES in Las Vegas.
Unfortunately, a number of rivals like the Apple iPad and the Amazon Kindle have appeared over the last year making it extremely difficult for Plastic Logic to compete especially with a starting price of $650.
Amazon dropped the price of its Kindle ebook reader recently to boosts its sales amidst record numbers of Apple iPad tablets sold and the emergence of cheap Android-based tablets.
The tablet used an e-ink technology from Vizplex with the screen being shatter resistant and, at 8.5x11 inch, amongst the bigger tablets on the market.
Plastic Logic has confirmed though that there will be an updated version of the reader although getting it out will be a significant challenge.
We reported earlier today that Plastic Logic might have sold a stake to a Russian based entity; this has not been confirmed yet.