The original Essential Phone that debuted in 2017 was known for its flashy design, including a sea green colour variant with gold accents known as Ocean Depths.
Rubin's shared the images and video of the new essential phone via his twitter handle.
In case the tall form factor doesn't immediately capture your attention, then maybe the color selection will, Rubin calling it "GEM Colorshift material".
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No word on when we can expect this new handset to show up in consumers' hands.
Essential had filed for a patent with the United States Patent and Trademark Office (USPTO) to trademark the "GEM" name, and so, we believe that the new phone from the company will be called as the Essential GEM.
The phone looks to come in four different colors, but because of the way the colors actually change at different angles it really feels like it comes in more colors than four.
In a world where phone screens keep getting bigger and wider - including fold-out displays and second screens - going taller to adjust the placement of important info and notifications is certainly one way to stand out.
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There are two buttons on the right side that are likely power and volume buttons for this new phone.
Rubin tweeted a short video and few images of Essential's upcoming phone. Below the protruding rear camera module is a fingerprint scanner.
We are unsure of what these devices are because neither Essential or Rubin have used "phone" to describe Project GEM.
The company claimed it had sold out of its initial stock and rather than manufacture more it wanted to focus on future products. It could either be an entirely new device or Essential PH-1's much-awaited successor.
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There is now no release date or pricing information for Essential's upcoming Project GEM smartphone. Did you like this new form factor?