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Bloomberg: Andy Rubin selling Essential, stopping second phone work

Android co-founder Andy Rubin could also be getting out of the smartphone producer he began up.

Bloomberg studies that the corporate is actively in the hunt for a purchaser and is on the lookout for one with the assistance of Credit score Suisse. The corporate was once remaining valued at close to $1 billion. It’s mentioned sale would come with highbrow belongings, present and incubating initiatives.

Assets say that the sequel to the corporate’s debut product, the Very important Telephone, has has stopped construction.

Rubin posted this tweet as a reaction:

He didn’t explicitly deny rumors of a sale nor did he ascertain that an Very important Telephone 2 was once canceled.

Because the starting, Very important has been losing and turning over workers and senior group of workers, together with its engineering leader early this yr. With restricted provider partnerships — Dash in the US and Telus in Canada — the PH-1 was once mentioned to have most effective offered as few as 20,000 devices when it was once to begin with priced at $699 (since then, the cost has long past all the way down to $450 and about 150,000 devices were offered to this point). The PH-1 was once panned for the efficiency of its digital camera, its contact display and different elements.

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