Essential Products, the smartphone and gadget startup founded by Android creator Andy Rubin, is exploring a potential sale, Bloomberg reports.

The company has also cancelled the development of a new phone, the report says. The appeal of Essential's first device was that it gave users a "pure" Android experience, meaning that it didn't come with a bunch of built-in apps. It also had a titanium frame and a great screen.

It received favorable reviews, including from CNBC, but didn't sell well at its original price and was heavily discounted.

An Essential spokesperson tells CNBC that it has "multiple products in development at the same time and we embrace canceling some in favor of the ones we think will be bigger hits."

The report said that one of the other products in development is smart-home related.

"We are putting all of our efforts towards our future, game-changing products, which include mobile and home products," the spokesperson said.

Rubin, who co-founded Android before Google bought it in 2005, launched Essential in 2017, several years after he left Google. Rubin also runs a startup incubator called Playground Global, where Essential is headquartered.

Read the rest of the Bloomberg report here.