Tencent backs $300m round in Android creator's startup

Tencent backs $300m round in Android creator's startup

Essential Products' $699 phone, with a titanium and ceramic case, will compete directly against new devices from Samsung Electronics and Apple Inc.

Essential Products, the smartphone startup founded by a co-creator of the Android mobile operating system, has raised $300 million in new funding and signed up retailers to sell its first device, it said on Wednesday.

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