Essential Phone Company Is Valued at More Than $1 Billion USD Without Selling a Single Phone

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Aug 14, 2017
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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.

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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.

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.

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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

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