Nothing Establishes CMF as Independent Subsidiary with India at the Helm

Nothings commitment to innovation leads to the announcement that CMF, previously a sub-brand, will now function as a standalone subsidiary. India has been selected as the centre for global research and development, manufacturing, and operations.

Strategic Partnership with Optiemus

To further this aim, Nothing has formed a partnership with Optiemus Infracom Limited, one of India’s leading electronics manufacturers. This collaboration is designed to create a joint venture that positions India as a significant production and export hub for products from both Nothing and CMF. The two companies plan to invest over USD $100 million and generate more than 1,800 jobs within India over the next three years.

Investment in India’s Growth

So far, Nothing has infused over USD $200 million into the Indian market, making the country a cornerstone of its growth strategy.

Vision for the Future

Carl Pei, CEO of Nothing, expressed that India plays a crucial role in defining the future of the global smartphone market. The CMF brand has garnered substantial market interest since its introduction two years ago. With comprehensive capabilities, Nothing aims to elevate it into India’s first truly global smartphone brand. This partnership with Optiemus is viewed as a significant advancement towards fulfilling that vision.

Strengthening Manufacturing Capabilities

Ashok Gupta, Executive Chairman of Optiemus, conveyed enthusiasm regarding the collaboration with Nothing. He noted that this partnership will enhance their state-of-the-art manufacturing capabilities for the contemporary and forthcoming products. The choice of global brands to manufacture in India illustrates the robustness of the Indian ecosystem and aligns with the Make in India and Atmanirbhar Bharat initiatives. This collaboration aims to produce export-ready items designed in India, thereby highlighting the innovative spirit and skills of the Indian workforce.

Recent Developments in India

This announcement comes on the heels of Nothing’s efforts to bolster its presence in India, including relocating CMF’s global marketing operations to the nation and appointing Himanshu Tandon as VP of CMF Business. Additionally, the company has successfully raised USD $200 million in Series C funding at a valuation of $1.3 billion, with investments led by Tiger Global and supported by new investor Nikhil Kamath.