Essential cancels development of PH-2, Company is looking for a buyer now

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New reports suggest that the Essential company is facing big business issues. According to the reports, the company has now cancelled all the developments on their next smartphone model Essential PH-2. Also, the company is now looking for a potential buyer to acquire the mobile business and development. 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. There’s apparently at least one interesting possible buyer.

The sale includes not only the business ownership, but it includes all the engineers hired from Apple and Google as well. In addition to that, this deal will include all the patents owned by the company including the upcoming products. So after the sale, all operations of the company will be handled by the new owner only. However, they are not yet up for an official comment on this report. Bloomberg has approached a spokesperson for the same and he declined to comment on this matter.

However, the company’s current owner Andy Rubin has tweeted just after this report. His tweet says that they create and cancel multiple product lineups. He is just washing it off as a common thing. However, his tweet confirms the earlier rumours about the company’s approach towards smart home products. Instead of the smartphone, the engineers at Essential are now working on an independent, smart home product running the company’s own Ambience OS.

It has been almost 2 years since the Android’s creator Andy Rubin had announced the Essential Phone for the first time before the world. The smartphone came with Android Operating System, with a redefined design and branding concept. The smartphone is packed with topmost hardware and chipset, including Qualcomm Snapdragon 835 SOC and 4GB of RAM on board. The display of the smartphone stands out from both the conventional smartphone display ratios and even trending 2:1 ratio. The 5.7-inch sized display has an aspect ratio of 19:10 with QHD resolution. The glass back panel with unique design gave the smartphone a unique proportion amongst leading player list.