The father of Android has reportedly cancelled his next big smartphone and might sell the company after raising $300 million (GOOG, AAPL)

• Essential — the startup founded by Android creator Andy Rubin — plans to sell itself, according to a new Bloomberg report. 
• The hardware company released its first product, the Essential Phone, last year. But plans have now been scrapped to release a second device. 
• Essential has raised $ 300 million to date and has been valued at around $ 1 billion.

Essential — the hardware startup founded by Android creator Andy Rubin — has canceled its next smartphone and is now looking to sell itself, according to a report from Bloomberg’s Mark Gurman and Alex Barinka. 

The 3-year-old startup has hired Credit Suisse to advise it on a sale, and has received interest from at least one potential buyer, Bloomberg reports, citing anonymous sources.

See the rest of the story at Business Insider

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