Essential was founded by Andy Rubin, creator of the Android, and has received large investments from a pack of venture capitalists for their smartphone project, which will ultimately compete with Apple’s iPhone and Samsung’s Galaxy. On August 9th, 2017, Rubin tweeted that the Essential smartphone is in mass production and that consumers will be able to find out where they can get theirs next week. (Photo via Essential)
The smartphone market has long been dominated by the Apple iPhone, and more recently the Samsung Galaxy has gained traction in that market as well. There may be even more quality competition soon enough with the news of Andy Rubin’s Essential smartphone project and the recent reporting from the Wall Street Journal and Business Wire that his company has gathered $300 million in funding from a long list of investors, which has raised the company’s total capital to $330 million. The list includes Access Technology Ventures, a subsidiary of the privately held industrial group Access Industries, which is described as the “venture capital and growth technology investment arm” of Access Industries, and has the largest contribution at $100 million, in addition to joining Essential’s board of directors. The other investors include Redpoint Ventures, Tencent Holdings Ltd., Altimeter Capital, Vy Capital and Amazon’s Alexa Fund.
Rubin is highly praised by Access Technology Ventures’ Managing Director, Pueo Keffer, as, “...one of the preeminent mobile entrepreneurs in the world,” and Keffer also expressed his optimism toward Essential’s viability in the smartphone market, saying that “there is consistent demand in the mobile industry for new and enhanced technology which Essential is uniquely positioned to attract.” Rubin, Essential’s CEO, responded in kind by saying that, “Along with its focus on founder-led companies, Access Technology Ventures’ global reach and long-term perspective match the scale and breadth of Essential’s ambition.” Business Wire reports that Rubin’s Android technology has been a huge success, and holds the title of the “world’s most widely used operating system,” so it seems that if he brings the same quality approach to his smartphone project, Essential will be able to thrive in spite of the, “seemingly insurmountable task of taking on [Apple] and [Samsung],” per Rolfe Winkler of the Wall Street Journal. Essential’s entrance into the smartphone market should be welcome news for consumers if they do in fact flourish against their stiff competition, because it incentivizes all the companies in the market to lower their prices, but also for them to improve their products.
Essential’s titanium smartphone boasts the world’s smallest 360-degree personal camera, as well as magnetic connector for wireless data transfer in an effort to keep consumers’ lives cord-free; just to name a few of the featured innovations. Their 128 gigabyte phone with the 360-degree camera is priced at $749.99 for a limited time, and the Essential smartphone by itself has a $699.99 price tag.
For more information or to reserve an Essential Smartphone, click here to go to their website.
What's with phones and carriers today? I've bought cars for less than these phones cost. Still a cool concept with the Essential phone. But, no headphone jack?
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