UMPC developer OQO may be close to shuttering if it can't find a buyer, investigations show. A post at fan forum OQOTALK cites multiple sources who say that the company is trying to sell itself and that cutbacks have been put into place to keep OQO running, including reduced hours. Doubts exist that the company's Model 02+ handheld will successfully ship.

Simultaneously, British retailer eXpansys has canceled preorders for the Model 02+ and has told customers inquiring about the Atom-based device that there are "uncertainties to stock availability" and that the company would rather be cautious than maintain orders for a device that may not become available.

OQO is one of the best-recognized UMPC designers but has faced stiff competition from smartphones and netbooks, both of which are increasingly providing the features given through the Model 02 but at significantly lower prices and shapes that are friendlier to either pockets or desktops. [via jkOnTheRun]