Unicorn is a startup that has valuations in excess of US $ 1 billion, which is a huge achievement. One of the highlights of Essential is that it has not yet launched a single smartphone to customers.
Tim Culpan, FIH Mobile division of Foxconn Apple supplier has invested US $ 3 million in Essential. The investment contributes 0.25 percent of Essential shares, which means the new company has been valued at approximately US $ 1.2 billion.
In July, Essential is estimated to have a price of US $ 997 million. Therefore, it is not strange if Essential managed to penetrate the valuation of more than US $ 1 billion and get a unicorn title. This is good news for the company headed by Rubin, especially since the date of launch of their first smartphone has become ever closer.
Currently, it is still not known when exactly Essential Phone will be launched. Rubi promised an announcement of the release date of the company's mobile phones to be made this week. Initially, this smartphone was promised to slide in June. However, the launch should eventually be postponed.
When Essential Phone launches, it will compete with premium smartphones like Samsung Galaxy S8 and iPhone 7. This smartphone has 5.71 inch screen with 1312 x 2560 pixel resolution and 19:10 ratio. The phone will use Qualcomm's Snapdragon 835 as a processor, the Adreno 540 as a GPU and 4GB of RAM and 128GB of internal memory.