It looks like the Essential brand is having a tough week. According to a recent report, the company is planning to cancel their Essential PH-2 handset development and now looking for a buyer. What is the reason behind this situation? Read on to find out!

Essential cancels PH-2 development and is now looking for a customer!

Today, we came across a significant news about the Essential brand. In details, there is a high chance that they are going to cancel the development of their second handset Essential PH-2. On the other hand, Essential founder and CEO, Andy Rubin, shared on Twitter today. He stated that the company is always working with “multiple products in development” and that it may choose to cancel some products in favor of others.

According to our sources, the company is now directing its engineers and resources towards developing a smart-home product that is set to hit the market next year. On the other hand, there is an ongoing discussion about the future of the company. The engineering team, which includes hires from Apple and Google seems to be likely to be a part of the sale as well, however, the company has not yet made any final decision yet.

So what is the reason behind such problem? Based on Bloomberg’s report, Essential only sold a total of 150,000 Essential phones until now. Moreover, the company had previously dropped the initial price by $200 from $699 to $499. You can also find the Essential device at $399 at some websites. For the Essential brand, this is not a great result. Additionally, the smartphone community doesn’t give their handset a high score. Moreover, Essential is now preparing the necessary information, including their complete portfolio of products, to look for a buyer.

What could be Essential brand future?

For now, the final decision hasn’t been made yet. As a result, there’s a slight chance that Essential brand can change their mind. We’re going to update you as soon as more information comes out, stay tuned!