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E-Reader Maker IRex Files For Bankruptcy
       

Is the e-reader market about to get less crowded? E-Reader maker IRex Technologies has filed for bankruptcy, citing disappointing sales of its consumer device in the U.S. CEO Hans Brons tells a Dutch financial publication that sales of the company’s iRex DR800SG, which went on sale in February, are below expectations and the company has run out of “working capital.”

 

The DR800SG—which retails for $399—got a lot of attention for its “open” model, which gave publishers lots of control over how their content was distributed; unlike the Kindle, for instance, publishers could set their own pricing. The company also has distribution deals with Best Buy and Barnes & Noble.

 

But the device—which lacks much brand recognition—doesn’t seem to have caught on with consumers. It likely didn’t help that its debut was repeatedly delayed and thus missed out on the critical holiday sales season.

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