PlasticLogic 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 PlasticLogic 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.
I'm _so_ not surprised. No less than 3 different industry insiders told me back at CES that PlasticLogic brought the Que to market a year too late. No one thought they could sell it for that price. And this was _before_ the iPad announcement.