News

Android creator considers sale of Essential phone maker

At least one potential buyer already said to be interested

Android creator considers sale of Essential phone maker

Android creator Andy Rubin has cancelled the production of a new smartphone under the Essential brand and is considering selling the start-up, according to a report.

Bloomberg has cited “people familiar with the matter” claiming the company has already hired Credit Suisse to advise on a possible sale. At least one potential buyer is said to be interested.

Big backers

It’s somewhat surprise news for a company that had raised $300 million from the likes of Amazon and Tencent. Essential had at one point been valued at around $1 billion.

Essential and Credit Suisse declined to comment on the news.

Rubin however reacted to the report on Twitter, stating: “We always have multiple products in development at the same time and we embrace canceling some in favour of the ones we think will be bigger hits. We are putting all of our efforts towards our future, game-changing products, which include mobile and home products.”

Despite raising significant sums of money, Essential has an uphill battle competing in the mobile hardware space that includes giants like Apple, Samsung and Google.

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Senior Editor

Craig Chapple is Senior Editor of PocketGamer.biz and InfluencerUpdate.biz. He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.