I've been out of the QRP loop for a while as my operating has waned in the last year or so but happened to run across an article on the blog of K4SWL, qrper.com. His post includes a note from Wayne, N6KR, on the fate of the K1:
We should have made a formal announcement here. Yes, we discontinued it because certain parts are hard to come by now, making it no longer cost effective for us to manufacture.This news meets me with mixed feelings. The K1 is the radio that started Elecraft - well technically it existed before Elecraft even. To see it go certainly strengthens the signals we've been seeing from Elecraft for several years now, since the introduction of the K3. I certainly hope that they continue to offer piece-part kits as long as it is possible.
It was a great product for us, and I used mine for years, taking it on many trips. I thought of it as a “Sierra on Steroids” at the time (referring to an earlier design I did for the NorCal QRP Club). But we’ve moved on to more versatile field radios, including the KX2 and KX3.
However, I will admit, I am no raving fan of the K1 as a radio - I have built one and I did not find it to perform very well with a fairly drifty VFO and weak filtering. For the price, it is too much toy and not enough radio. Still, it was one of the first kits many hams have had the pleasure of putting on the air so I can see the draw.
Now Tom's blog noted that the KX1 was also on the chopping block but I did not see any evidence of this on Elecraft's site, as they are still selling the KX1 from stock, but I have not gone in and researched if there was further discussion in the thread Wayne posted on. In my opinion, the KX1 is far superior in performance and operation to the K1 and it would be a shame to see it go from the list of offerings.