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There's apparently at least one interesting possible buyer. This will include its patent portfolio, hardware products like the original phone, the upcoming smart home device called Essential hub along with the 360-degree camera attachment for the phone.

The company, which launched in 2017 with $300 million in funding, has reportedly put itself up for sale and stopped development of the next version of its Essential phone.

"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".

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Bloomberg reports that the company has sold about 150,000 Essential Phones to date. Rubin also mentions that he and the company are putting all efforts into the company's future products, which are referred to as "game-changing", and that they will include mobile products as well as products that are designed for the home. The hired talent which is said to have been recruited from Apple and Google are probably going to be part of the deal, but Essential has yet to give the green signal on the sale. The company's first smartphone was the Essential Phone and it flopped massively. Scathing criticisms of the Essential Phone's camera quality and the high price didn't help the phone's initial sales, either. In fact it was just last month that Essential was already talking about their second phone. Since its launch, Essential has lowered the price by $200 and is said to be planning to expand it to other markets as well. The device failed to live up to any expectations having sold just 150,00 units, but the phone did stand as one of the only devices you could get at the time with almost non-existent bezels and a notch. Yet production delays, problems with shipments and amid reports of "workplace misconduct" while Rubin was at Google, the company is now said to be on the verge of selling up.

Essential came on the tech scene previous year with a splash due in large part to Rubin and his promise of outstanding gadgets that people would love.

The Information was also able to obtain an internal email sent by Rubin to his employees.