Nothing is spinning off its budget brand CMF into an independent subsidiary, according to a report by TechCrunch . India will serve as the newly-formed company's headquarters for manufacturing and R&D, thanks to a partnership with one of the country's telecom operators. Nothing says this venture will create over 1,800 jobs in the country.
India is actually a good choice for the HQ. The country is Nothing's strongest market overall, with over a 2 percent market share in smartphones . It's the fastest-growing brand in the region, with an 85 percent growth in shipments year over year. CMF also specializes in budget-friendly handsets under $200 and this is the dominant category in India, according to the IDC .
Making tech fun again. Making it in India. 🇮🇳 https://t.co/17tkpNGRyB — Nothing India (@nothingindia) September 25, 2025
“India will play a key role in shaping the future of the global smartphone industry. CMF has been well-received by the market since we launched it two years ago," Nothing CEO Carl Pei said in a statement. "With our end-to-end capabilities, we are uniquely positioned to now build it into India’s first truly global smartphone brand."
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Nothing hasn't said how much money it would take to set up this new subsidiary, but the company did just raise $200 million in a funding round . Maybe some of that cash will be funneled to this project.