The Essential Phone 2 has essentially been cancelled

Essential Phone 2: Did Android founder Andy Rubin just cancel his next phone?

The sale discussion includes the selling off of its entire portfolio, patents and future product ideas to the respective buyer.

"We always have several products in development at the same time, and we decide to cancel some in favor of those that we consider to be hits".

We were expecting a second-generation version of the original Essential Phone later this year, but development on it has ceased at the start-up, according to Bloomberg. He added that company is putting more efforts in its upcoming mobile and home products. The company is part of Rubin's incubator Playground Global and it was able to raise around $300 million from investors previous year. The smartphone was the first device to feature a almost bezel-less design with a display notch.

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Even if Essential stays afloat, it looks like we can kiss the dream of an Essential Phone 2 goodbye.

Essential's first smartphone launched last August following a multi-week release delay. The company is part of Playground Global, the startup incubator that Rubin began in 2015 to focus on new hardware projects after leaving his role as Android chief at Google. Since its launch, Essential has lowered the price by $200 and is said to be planning to expand it to other markets as well. As per the exclusive report by Bloomberg, the company is said to have been consulting with a firm about its options for letting itself be bought by another company. Bloomberg first reported late Tuesday that Essential was up for sale, and has hired Credit Suisse as an adviser on the matter. This would take Essential itself out of the development process, but it would still make it possible for an Essential-branded smartphone to be available to buy.

The company will also continue its work on Essential Home, their version of a home assistant that would run ambient OS, which intends to unify the customer's experience. The company has sold at least 150,000 to date, according to the person familiar with the company. Also, many top executives such as Brian Wallace who worked as the vice president of marketing and Joe Tate who served as the head of hardware engineering have left the company.

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