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SAN FRANCISCO — Essential Products, a consumer electronics start-up founded by the former Google executive Andy Rubin, said on Wednesday that it was ceasing operations.

Once considered one of Silicon Valley’s most promising hardware technology start-ups, Essential had raised $330 million in outside funding because of the track record of Mr. Rubin, who is widely credited with creating Google’s Android smartphone software.

But Essential, which was once valued at $1 billion, has struggled. It released a premium smartphone in 2017 that did not sell well, and it later scrapped plans to develop a smart speaker.