Creator Android wants to sell Essential, writes Bloomberg. The company has postponed the development of a new smartphone and looking for a buyer.
Preparation of documents involved in financial company Credit Suisse. It is reported that the startup is estimated at $ 900 million. This amount also includes the company’s patents, know-how and engineers, some of whom moved to Essential from Apple and Google.
Sources Bloomberg reported that the company may remain in the mobile business, but then she would have to abandon the design of smartphones. Instead, Essential to control the “major part of the development of the” devices together with Foxconn.
The engineers who worked on Essential Phone 2, was assigned to develop a device for the intelligent home. This information was indirectly confirmed in a Twitter spokesperson of the company.
We always have several products in development at the same time and we cancel some of them for the sake of others that we think will be big hits. We work hard for our future game-changing products, including mobile and home devices.
Essential was founded by one of the creators of Android Andy Rubin. After the sale of Android, Rubin led the development of the OS in Google, but resigned in 2014. The first and only mobile Essential Phone released in 2017. It was priced at $ 700. For this price, the company sold 20 000 smartphones, a spokesman said Bloomberg. To raise sales, the price was reduced to $ 200.
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