Despite smartphone delay, Andy Rubin's Essential is now valued at over a billion dollars

Andy Rubin's Essential showed off its first Android handset, the PH-1, towards the end of May. The device features a near bezel-less display and also the ability to accept modular accessories like its 360-degree camera. The firm is now being valued at over a billion dollars thanks to Foxconn's FIH Mobile recent filing for a $3 million investment.

Despite being valued at over a billion dollars, the firm has yet to ship its handset to a single customer. When the phone was first revealed, Rubin stated that it would arrive within "30 days or so". This date quickly passed and led to a long silence before he would proclaim a new timeframe. During this time, Essential also suffered the loss of top executives.

Luckily, things appear to be on the rebound as the company recently started sending out invitations for a 'First Look' event that is scheduled for August 25 in Los Angeles. If curious about the device, the unlocked version is available to be reserved from Essential directly for $699 and you can still take advantage of the limited time offer on the modular 360-degree camera for an additional $50.

Source: Tim Culpan (Twitter) via The Verge

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