Carl Pei launched Nothing last month and revealed plans of launching a pair of TWS earbuds this summer. Now, a report from 9to5Google reveals filings with the UK Intellectual Property Office that disclosed that former Essential CEO Andy Rubin has transferred ownership of the Essential brand assets to Nothing Technologies Limited.
The transfer was completed on January 6, 2021, and filled initially on November 11, 2020. The IP transfer includes Essential’s brand, existing trademarks, and logo.
Essential launched the PH1 phone which wasn’t widely successful in itself. Although, the company though received a company valuation of over USD 1 billion before selling a product. It had plans of launching a PH-2 and PH-3 in addition to an extra-slim smartphone with a new interface but Essential, essentially folded.
With Essential now being [a part of] Nothing, it raises the question if Pei can work his magic with a Nothing smartphone. It makes it even more interesting knowing that the new tech startup has the Essential assets. Will it be able to disrupt the smartphone market as well?