The Essential Phone got off to a rough start with a price tag equal to flagships but without the polished user experience to come with it. Camera problems and software bugs that needed addressing explain many of the poor sales figures. Now, co-founder and Android creator Andy Rubin is exploring a sale of Essential Products Inc.

For those hoping to see a second Essential Phone, that plan has been canceled. There will not be a second phone produced by Essential as it stands today. Rubin Tweeted out, "We always have multiple products in development at the same time and we embrace canceling some in favor of the ones we think will be bigger hits."

Sprint was a large supporter of the Essential Phone and was trying to get a true flagship device exclusive to its mobile network. Now that T-Mobile has acquired Sprint, Essential had no carrier in the United States as a backer for a second generation.

Credit Suisse Group AG has been hired to advise on the company sale. So far, there is believed to be at least one potential buyer, although all involved in the negotiations have been unwillingly to publicly comment on the matter.

Ongoing discussions to buy the business are headed towards a total sale of all assets. Patents, employees and hardware products including an upcoming camera attachment and smart home device would all be part of the deal.

To date, it is estimated that Essential has sold approximately 150,000 units of its first generation phone. Although the sales are a drop in the bucket compared to Samsung, Apple and Google, the minimalist design philosophy of Essential has not been complete ignored.