Essential

The firm officially launched in 2017, securing significant funding from various investors, including a notable $300 million that elevated its valuation to unicorn status at over $1 billion before it had even shipped a product. . Essential's primary business was the design and sale of consumer electronics, with its flagship product being the Essential Phone, also known as the PH-1. This device targeted the premium smartphone market, competing with established players like Apple and Samsung. The business model was centered on direct-to-consumer sales and partnerships with mobile carriers.

The Essential Phone was distinguished by its high-end build, featuring a ceramic back and a titanium frame for enhanced durability. . A key selling proposition was its edge-to-edge display with a minimal notch, which was a novel design at the time of its release. The device also featured a magnetic connector system on the back, intended to support a range of modular accessories, such as a 360-degree camera. . The phone ran a stock version of Android, promising fast updates and no bloatware, appealing to users seeking a pure Android experience. Despite its premium design, the company faced challenges with camera performance and initial pricing, which led to significant price reductions. . Ultimately, after struggling to gain market traction and canceling its next major product, a smart home device called the Essential Home, the company ceased operations in February 2020. .