Essential Cans Plans for New Phone, Puts Itself Up for Sale
Essential Products is for sale, reports Bloomberg, and has cancelled plans to develop a new phone. The company has hired a financial firm in order to help advise it on a potential sale, according to Bloomberg's sources, who also say Essential has already received interest from one possible buyer. Essential, part of Andy Rubin's Playground Global tech incubator, announced the Essential Phone at about this time last year. The phone was unique thanks to its ceramic design, all-screen face, and magnetic mod system. The phone was sold by Sprint in the U.S., as well as unlocked directly from Essential. The $700 device struggled to find buyers, however, due to poor camera and call performance. Bloomberg's sources suggest as few as 150,000 Essential phones have sold since its August 2017 launch. Essential raised around $300 million in funding and spent about $100 million of it developing the Essential Phone. The company is exploring a sale of the entire company, including hardware, patents, a smart home product, and a camera attachment for the phone. It's not clear what might happen to Essential's employees. Andy Rubin is known for developing the initial Android platform. Essential did not comment on Bloomberg's story.
May 30, 2017
Essential Products, the startup being run by Andy Rubin, who helped create the Android operating system, announced its first smartphone today, the PH-1. The PH-1 is a high-end handset crafted from a titanium shell that Rubin claims is more robust than aluminum and more resistant to damage when dropped.
Jul 21, 2017
Andy Rubin today provided an update concerning the expected arrival of his new company's Essential PH-1 smartphone. "We’ve been hard at work getting everything ready and the good news is that we’re now going through certification and testing with multiple U.S.
May 31, 2017
The Essential Products PH-1 smartphone will be shipped to those who reserve it online in about 30 days, according to Andy Rubin, Essential Products' CEO. Speaking at the Code Conference, Rubin said the brand new phone will reach consumers as soon as the end of June, though he didn't commit to a specific date.
Jun 12, 2017
Essential Products has found a U.S. carrier to distribute its Essential PH-1 handset, and that carrier is Sprint.