British plastic electronics maker Plastic Logic, a project company of Russian nanotech giant RUSNANO, has canceled gadget manufacturing plans and postponed construction of its plant in Zelenograd, Moscow region, news agency Cleandex reports citing the firm and its investor RUSNANO.
Instead, the company will reportedly concentrate efforts on R&D in plastic electronics, with results to be outsourced to outside organizations. Refusal to make its own readers and tablet PCs marks fundamental change of Plastic Logic’s strategy. Just recently Marchmont wrote about the company’s previous plans in the feature “Despite Bleak E-Reader Forecast, Plastic Logic Pushes Next Gen Color Reader Display”.
The company also moved dates to launch a plant in Zelenograd, scheduled for construction in 2013-2014. According to Georgiy Kolpachev, the managing director of RUSNANO, the reason for delay is “the risk to build a plant that will not be needed”. The plant was supposed to produce black and white electronic readers, based on plastic electronics technologies.
Georgiy Kolpachev noted that cancelling gadget production was due to changes on the consumer electronics market. The market of readers has shrunk, and they became low-marginal products. “Technologically, we have more to offer,” he added.
New plant construction date has yet to be announced. It will reportedly happen after the company develops its new technology in about two years. The earliest date for start of construction is thus set for 2016.
Meanwhile, Plastic Logic has kept its plans to set up an R&D division in Russia. Under the new strategy, it will be based at the Moscow Institute of Electronic Technology in Zelenograd and create 43 jobs.
Plastic Logic’s strategy altering decisions were reportedly made recently, in Q2 212. The new strategy was approved by the company’s main investors: RUSNANO and fund Oak Investment Partners.