Essential is reportedly canceling the development of a follow-up to the Essential Phone and considering selling itself.
The company has hired Credit Suisse to provide advice on a potential sale, and has received attention from at least one potential buyer, as reported by Bloomberg. Any deal would allegedly involve all of Essential’s assets, including patents, workers, and unreleased devices.
The company was co-founded by Android creator Andy Rubin, who responded to rumors on Twitter.
“We always have multiple products in development at the same time and we embrace canceling some in favor of the ones we think will be bigger hits,” he wrote. “We are putting all of our efforts towards our future, game-changing products, which include mobile and home products.”