Last month, OnePlus’s Co-founder Carl Pei announced his new startup company called ‘Nothing’. Reportedly, the company will focus on consumer electronics with its first product being TWS earbuds.
Eventually, the company plans on launching a complete ecosystem of devices that can connect to each other. The same concept was shared by the now-defunct Smartphone brand Essential. It looks like, Carl Pei has found out that Essential’s initial intention of creating this ecosystem of devices aligns with what he wants to do with Nothing. Hence, he decided to acquire it.
According to a recent report by 9to5Google, they have found filings with the UK’s Intellectual Property Office which reveal that former Essential CEO, Andy Rubin, has transferred ownership of Essential’s brand assets to Carl Pei’s Nothing Technologies Limited.
The listing dates back to 6th January 2021 and was filed on 11th November 2020. The transfer includes trademarks, logo, and the Essential brand which are now to be owned by Nothing.
Although, as a company, Essential was not very successful, it became a unicorn, receiving a company valuation of over $1 billion before selling a single product. Before its downfall, the company had released its Essential PH-1 handset and was planning to launch the PH-2 and PH-3 models along with an ultra-thin handset.
Carl Pei is mum lipped about the ventures of his new startup. So, we cannot guess whether it will work out or whether it will have an Essential-like fate.