Essential Phone Company Is Valued at More Than $1 Billion USD Without Selling a Single Phone
In today’s world, where the overwhelming competition can pummel you into submission, Andy Rubin must be proud that his company, which has announced the Essential Phone has been valued at more than $1 billion dollars. What is even more impressive is that the company has yet to sell a single device, and yet it has been given such a mammoth of a valuation.
Columnist States That Foxconn’s FIH Mobile Filing Details a $3 Million Investment for Essential Phone Company, Which Adds to the Total Valuation of the $1.2 Billion USD Figure
A Bloomberg columnist by the name of Tim Culpan states that for approximately 0.25 percent of the company, Foxconn’s FIH mobile filing details a $3 million investment. What it also reveals is a valuation of around $1.2 billion after estimates in July had tipped the phone manufacturing company’s worth at approximately $997 million. Crossing the $1 billion dollar mark was only going to be a waiting game, so it does not come as a surprise that it has managed to reach the aforementioned figure.
However, what is surprising is the fact that Andy Rubin’s company is able to accomplish this without selling a single Essential Phone unit. The company’s founder has not exactly provided copious findings as to why the handset has been delayed, but production issues could be one of them.
Thanks to FIH Mobile’s latest filing, I can tell you that @Arubin‘s Essential is now a unicorn, valued at appx $1.2bn
— Tim Culpan (@tculpan) August 14, 2017
At a glance, the Essential Phone is a beauty to look at and follows the same attractive bezel-less approach as the Xiaomi Mi MIX. It also comes rocking a Snapdragon 835 and 4GB RAM, and its dual-camera feature coupled with the ability to select certain modules for an improved smartphone experience are also valid selling points for the product.
Do you think that the current valuation of the company has been over-inflated excessively? Let us know down in the comments.
Source: Tim Culpan