In the wake of rising competition and a recent price war sparked by Barnes and Noble, Plastic Logic announced it is abandoning plans to release an eBook reader of its own.
"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," Rich Archuleta, chief executive officer, said in a statement. "This was a hard decision, but is the best one for our company, our investors, and our customers."
Archuleta added that his company would shift its focus away from the Que and begin building a second generation ProReader product, taking whatever time is necessary to "re-enter the market as we refocus, redesign, and retool" the Que's successor.
It's unclear exactly why Plastic Logic chose to dump it's first-gen reader, but it likely had to do with the sudden price cuts from the industry's two major players, Amazon and Barnes and Noble. Coupled with the fact that Plastic Logic initially intended to sell its black-and-white Que for $650 when it was first shown off at CES earlier this year (before the iPad debuted), this cancellation was probably inevitable.