However, it turns out people aren't buying the device, which is why the company has permanently cut the price of the handset by $200, down to $499.
The $199 Essential 360 Camera, which looks like a clip-on, fish-eye lens and snaps onto the back of the phone using magnetic pins, records and auto-stitches 4K video and uploads it directly to Google Photos.
Anyone who recently put money down on an Essential Phone is sure to be disappointed though, which such a significant reduction just two months after launch.
What if you purchased the Essential Phone for the full $699 price?
Essential is an Android-based phone from Essential, designed by Android's co-creator Andy Rubin.
In September, a report coming out from research firm BayStreet - known for tracking shipments of phones in the United States - revealed only 5,000 Essential Phone units sold in the country since launch. So if you are thinking to buy the Essential Phone, you should hurry to grab the phone as soon as possible.
Although, this price cut comes along with an important piece of detail, that is, the price slash being a "limited offer". Naturally, the company stated that the price cut is due to their care for their customers, however, it is hard to believe that this is the case.
In order to help offset the angst that current Essential Phone owners might be feeling after seeing such a massive price drop, Essential is offering these owners a $200 family and friends coupon that can be used for another phone or accessories. The phone is powered by Qualcomm Snapdragon 835 processor. Sporting a titanium and ceramic body, the smartphone features an 5.7-inch LTPS edge-to-edge display and dons a dual camera set up on the rear. The phone is backed by a 3040mAh battery with fast-charge support.