Roll-up eBook reader hits money troubles

 

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By Stuart Turton

Posted on 23 Apr 2009 at 10:38

Polymer Vision's innovative fold-away eBook reader may not be released as the company struggles to find funding.

We first came across the Readius back in October. Unlike traditional eBook readers, such as the Kindle and Sony PRS 505, the device's 5in E Ink screen folds away into a smartphone sized shell when you're not using it.

Despite the novel new approach, the company says that the economic climate is making it tough to sell the concept to investors: "Our whole supply chain is in place but the device is not in market because, like many other companies, we have had financial difficulties," says chief executive Karl McGoldrick.

"The last nine months have been very difficult for young companies... We are ready to go into production but all depends on exactly when the funding comes through. Our display is perfect and the device is solid. This product should have been out in the market last year. It is really frustrating."

McGoldrick says he's talking to new investors in an attempt to scrape together new funding, and that a deal could be done in the next few weeks.

The second generation of the Readius could see the company combine an eBook reader with a smartphone, allowing you to make a call, check your email over 3G, peruse your calenders and contacts, and have access to your favourite mags and newspapers all through one device.