Plastic Logic Kills Its E-Book Reader

It's dead, Jim. We seem to be repeating that a lot, lately. Another ill-received, or in this case, not received at all, product has bit the dust. The Plastic Logic QUE ProReader has been cancelled, to probably no one's surprise (the company's cancellation of pre-orders in June was a huge sign).

Plastic Logic CEO Richard Archuleta said the following in a statement:

"We recognize the market has dramatically changed, and with the product delays we have experienced, it no longer makes sense for us to move forward with our first-generation electronic reading product. This was a hard decision, but (it) is the best one for our company, our investors and our customers."

The reasons behind this are many, including the postponed launch of the reader, as well as the nook, the Kindle, and the iPad, all of which were priced well below the cost of this device.

However, the company says it's working on second-generation technology. There was also a report in FT that it may sell a stake to a Russian technology company, but there has been no comment from Plastic Logic.