Plastic Logic has been stuck in a world of perpetual delays ever since wowing the universe with its QUE ProReader at CES, and rather than delaying it again, the company is simply cutting its losses and moving on. To quote CEO Richard Archuleta: "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." To that end, the company plans to "shift its focus to bring to market a second-generation ProReader plastic electronics-based product," but absolutely no details regarding form factor, pricing or an estimated ship date are given. Wilder still, those rumors about a company sale have coincidentally (or not?) flared up again, with the Financial Times stating this go 'round that Plastic Logic could sell a "significant stake" of itself to Rusnano, a Russian state-owned nanotechnology corporation. We're told that the two are currently "in discussions," and that if a deal is reached, Plastic Logic's production facility for this elusive next-gen product would have to be based in Russia. We can't say we're completely shocked at the outcome here, but we're man enough to shed a tear at our loss. Rest easy, QUE -- at least we had our times.
Plastic Logic Moves On To Next Generation Product
Revised product strategy to bring industry's first advanced device using plastic electronics technology to market. | 10 August 2010
MOUNTAIN VIEW, CALIFORNIA - August 10, 2010 – Plastic Logic today announced it is revising its product strategy and plans to shift its focus to bring to market a second-generation ProReader plastic electronics-based product. The company said it has cancelled its QUE product, which it 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."
Archuleta added: "We plan to take the necessary time needed to re-enter the market as we refocus, redesign and retool for our next generation ProReader product. We continue to perfect our core plastic electronic technology and manufacturing processes that are central to our product's unique value proposition.
"We remain the industry's leader in the development of plastic electronics technology for commercial purposes and are continuing to actively advance this technology in our labs and in our manufacturing facility."
Plastic electronics technology has many economic, manufacturing, form factor and environmental benefits, assuring that it will replace silicon in a variety of devices in the future. The technology makes possible an amazingly thin, lightweight, more robust mobile form factor that the QUE illustrated – and remains unmatched in the marketplace of traditional silicon semiconductor glass-based display products.
"We are fortunate to have investors who are confident and committed to our company's long-term success in commercializing plastic electronics," Archuleta noted. "We thank them, along with our partners and suppliers, and most especially our first customers, for their support, dedication and patience -- and for standing with us to pioneer the plastic electronics revolution."
About Plastic Logic
Plastic Logic's mission is to lead a revolution in the way people acquire, organize and consume information. We are using our proprietary technology leadership in plastic electronics to create a range of innovative products. Founded in 2000 by researchers out of the Cambridge University Cavendish Laboratory, Plastic Logic has research and development in Cambridge, England; high-volume, state-of-the-art manufacturing in Dresden, Germany; and executive management, product engineering, sales and marketing headquartered in Mountain View, California. For more information about Plastic Logic, please go to PlasticLogic.com.