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Report Shows There May Not Be An Essential Phone 2 Device At All

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When the Essential Phone was unveiled almost a year ago, it showed some pretty spectacular specs. Not only that, the man behind the startup company, Andy Rubin, is one of the guys who created Android.

This increased the public's interest for the Essential Phone, especially the die-hard Android and tech enthusiasts. Some were even looking forward to the next device, a potentially "game-changing" device called the Essential Phone 2. If this is something you are holding out for, you may be in for some disappointment with today's news.

Earlier today, Bloomberg reported that development plans for the Essential Phone 2 has been cancelled. In addition to this, the report shows that the startup is considering selling off the entire business. The company reportedly hired Credit Suisse Group AG to spearhead giving advise on a potential sail. Bloomberg's report showed that there is at least one business showing interest in buying the business.

The decision to sell the company, as a whole, shows that Essential still has a pretty promising future ahead of it. Instead of selling off its assets apiece, the sale of the company will reportedly include its engineering talent, products, and patents. Rubin's recent tweet has some connection with this decision.



Rubin declined the report that the business is shutting down. He also complained about the article  by Bloomberg.

Last year, Essential was able to raise funds of around $300 million from its investors. The list of investors included companies like Amazon, Foxconn, and Tencent. From this funding, the company was able to spend over $100 million to develop its first products. Meanwhile, approximately a third of its funding went to building the company.

Considering Essential has not yet made a comment about the future of the company, there's still no final decision about a potential sale. A Credit Suisse spokesman decline to leave a comment as well. If all goes well, however, the sale of the business could be anywhere between $900 million and $1 billion since this was the estimated value of the company last summer.



Source: Bloomberg, BGR

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20 comments:

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  1. I can't imagine anyone wanting to buy the Essential company. Maybe BLU can buy it and infuse the phones with malware and come out with some premium models to add to their line?

    ReplyDelete
    Replies
    1. No, that won't work. Blu made a deal with the Gov to audit their phones' firmware frequently, including audits by independent firms. They now sell the safest Android.phones. So it's time to stop recycling 18 month old news.

      Delete
    2. The Blu phones are still dangerous and notoriously shoddy. Look at the customer reviews on Amazon and other places. There's some great phones now in this price point from reputable brands, there is no reason to accept such a risky compromise by going Blu.

      The same shills who are calling the Blu phones the "safest" are also the ones who denied that there was a spyware problem in the first place.

      And being audited by the government means nothing. When ZTE was caught eating terrorists, they agree to some very stiff sanctions. And then the company failed to implement any of the promised changes... Look where they are now.

      There's no good reason to buy such bad phones. No company gets a free pass on filling their phones with such spyware even once.

      Blu is the Corvair of cell phones. Unsafe at any speed.

      Delete
    3. "Blu made a deal with the Gov to audit their phones' firmware frequently"

      That's pretty bad. A vendor caught doing something so heinous that its every single move has to be monitored closely by the government. A company that cannot ever be trusted to do the right thing on its own, you know?

      It's like a restaurant in the neighborhood with signs on the door mentioning all the health violations it has been caught with. When you see that, it's really telling you you should go to a restaurant that doesn't do this.

      Delete
    4. The gov is not auditing BLU.
      BLU audits BLU, with some independent third-party audits.
      They are now safer than any other Android phone.

      Delete
  2. Called it.

    Essential's vanity project was deluded from the start, and it was never going to succeed amongst informed consumers / early adopters the same way Motos, Honors and Nokias have.

    It just wasn't affordable or practical enough, especially not with that stupid notch.

    They should've just built a bezeless mid-range device with universal compatibility and no front facing camera, then tried to outdo the Moto G series on performance relative to price.

    From there, they could've worked their way up to competing with Oneplus and eventually Samsung.

    But instead, they botched both the design and pricing so badly that it knocked them out of the smartphone business entirely.

    So much for silicon vally techsters being the best, brightest and most educated.

    They still don't have the ounce of real world common sense needed to separate good ideas from bad.

    RIP Essential

    At least the execs will still sail away on their post-buyout golden parachutes, a well deserved reward for a failure well done.

    ReplyDelete
  3. Anyone else ready for a new operating system? Apple costs a lot but pretty secure. Android is free but mines every time you touch for all of the information possible to sell.

    What company do you think might have the new OS? I would not be surprised if Nokia doesn't try again in the next few years .Samsung is keeping their Linux based one in development mostly. There are several android based ones in China already but Americans can't really use them yet. I hope a new one comes soon because this staleness is making the industry very boring and uninspiring.

    ReplyDelete
    Replies
    1. I'll stick with iOS for now. The latest version runs great on my iPhone 6S, a phone you can buy in good condition for around $200.
      Sailfish and MeeGo are two I want to see sold with mobile phones.

      Delete
    2. Sailfish X and 3 are developed from MeeGo. You can buy them now in some regions like Latin America and EU. I'm hoping they get a USA distributer soon. It works on 17 phones now, including Sony X, XA2 and some 4G feature phones.

      Delete
    3. "Android is free but mines every time you touch for all of the information possible to sell."

      Not really true. If you use Google Maps and Gmail And Google Search on your iPhone, you are pretty much getting "mined" the exact same way as an Android device.

      ----

      I prefer Android myself because there are some apps that simply do not exist on the iPhone. Also file transfer on an iPhone is primitive and rudimentary, and multitasking on the iPhone is badly broken compared to Android.


      The Android experience is much more centered on the user, as exposed to the iPhone experience which is focused on making a few of the cardinals at Cupertino happy.

      Delete
    4. There are more than 1.3 Billion iPhones in use around the world, and over 2 Billion Android phones. That does not mean, however that most people prefer Android. There were a large percentage of cheap Androids sold; many of those were bought by people who could not afford a top-quality phone like an iPhone or Android flagship. If somebody offered a new iPhone or a new, similar quality Android, I'll bet most people would take the iPhone. This would certainly be true if you offered an "average" Android or iPhone.
      6 of the top 7 smartphones sold last quarter were iPhones.

      Delete
    5. "That does not mean, however that most people prefer Android."

      It actually does indeed mean that most people would prefer Android. Because we have far and away the most accurate indicator of what people prefer in form of the sales figures you give earlier in your comment. Everything else in your comment is fanboy guesswork.

      Delete
    6. "If somebody offered a new iPhone or a new, similar quality Android, I'll bet most people would take the iPhone. This would certainly be true if you offered an "average" Android or iPhone."

      Of course I'd take the free iPhone.

      Then I'd sell it, buy a G6, treat myself to a nice dinner, and still have money to spare.

      Gotta love that resale value.

      Delete
    7. KaiOS is in the Alcatel flip phones sold by T-Mobile and Sprint Metropcs,Boost and now the Nokia 3310 4G not yet released USA model. IOS in the iPhone se is a big seller for those that want smaller phones and whatever company makes a 3.5 inch Android Oreo with 2gb ram and 3000mah battery will be a large seller

      Delete
    8. "Of course I'd take the free iPhone. Then I'd sell it, buy a G6, treat myself to a nice dinner, and still have money to spare. Gotta love that resale value."
      Yes, the resale value is a big advantage. Every year I buy a 10-month old iPhone still under warranty and keep it for a year for a net cost of only ~$10/month.
      iPhones are very well made and last longer, especially with all the software and security upgrades. Which helps explain why there are still 1.3B iPhones in use world-wide.

      Delete
  4. I guess it says how much interest there is in "Essential" if people would rather discuss BLU, the failed Chinese malware outfit.

    ReplyDelete
  5. Sales don't equate to preference. Sales equate to budgets! Android is just like Facebook. They give it away cheap to get you to give them something more valuable.

    ReplyDelete
    Replies
    1. An exchange of non-monetary goods / partial bartering is a lot better for consumers than simply charging loads of dosh, at least for any of the hundreds of millions of Americans who've yet to make the Fortune 500.

      Delete
    2. Barter? Thank you for this novel idea. I look forward to purchasing my next Essential phone with bushel baskets full of corn and pears.

      And by the way, the Fortune 500 is for businesses not individuals. I assume you don't know that, but people typing about things they have no idea about.... Well that is rather common.

      Now if you'll excuse me, I have some trash bags full of old Beanie Babies that are actually in pretty great condition. I figure I should be able to take them down to the Apple store and get a new iPad with them.

      Delete
    3. Sales equate to preference. In fact, sales are the most reliably accurate indicator of preference.

      Of course, factors of which budget is just one figure into preference.

      As for this..."They give it away cheap to get you to give them something more valuable" , it is a purely imaginary claim.

      Cheap Android phones have minimal cameras and are slow and have very little RAM More expensive Android phones have premium components and a lot of memory and great cameras. It's simple economics rather than purely imaginary claims of someone giving something that doesn't exist.

      If your claim is based on baseless conspiracy theories involving Google, well every iPhone that has Gmail and Google Mapsabd Google Search is subject to this as well.

      Delete
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