Nothing is repositioning its budget-friendly CMF line by elevating it to an independent subsidiary, with a new production and research center slated for India. This strategic move is powered by a collaboration with a major Indian telecom operator and is projected to generate over 1,800 new jobs within the country.
India has been chosen not only for manufacturing and development but also as a key market for CMF, where the brand already commands a notable presence and holds over a 2% share of the smartphone market. CMF is the fastest-growing label in the region, reporting an 85% year-over-year rise in shipments. The focus remains on delivering budget smartphones under $200, a segment IDC identifies as the dominant category in India.
CEO Carl Pei emphasized that India will be central to shaping the future of the global smartphone industry. Since CMF’s launch two years ago, the brand has gained significant market interest, and with end-to-end capabilities, CMF aims to become India’s first truly global smartphone brand.
Financially, Nothing has not disclosed the exact investment amount for establishing the new subsidiary. However, the company recently disclosed a $200 million funding round, with a portion likely earmarked for CMF. CMF first entered the market in 2023, starting with wireless earbuds and smartwatches before expanding into smartphone manufacturing.
