Arc KOBO

I heard a rumor that KOBO is getting out of the tablet business..... I can't believe that this is true...however I have noticed that on my original KOBO it will not update android past 4.1.1.

Is there any truth to this? And will KOBO keep updating android? Even on older models? For instance my older phone keeps updating android and is now running 4.4.2, but started with 4.0.

Just curious...