Andy Rubin’s Essential is reportedly up for sale and has cancelled work on its next smartphone

Essential, the smartphone company helmed by Android co-creator Andy Rubin, is trying to sell itself and has cancelled development of its next phone, Bloomberg reports.

The report states that Essential has hired Credit Suisse Group AG to advise them on potentially selling itself. The company raised $330 million from investors, including Rubin’s own Playground Global, Tencent Holdings and the Amazon Alexa Fund. The news of a potential sale accompanies news that the company has ended development on its next smartphone, a major blow for a company aimed to challenge companies like Apple and Samsung with a device that it hoped would hold its own.

“We always have multiple products in development at the same time and we embrace canceling some in favor of the ones we…

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