Nothing Spins Off CMF as Independent Indian Company

CEO Carl Pei announced on September 21, 2026, that Nothing Technology Limited will spin off its budget-focused sub-brand, CMF by Nothing, into a standalone, majority Indian-owned company. Headquartered in India, the new entity will operate independently with its own local team and research and development operations, moving beyond simple assembly to develop indigenous capabilities in industrial design, software, and camera engineering.

Under a joint venture, Optiemus Infracom will acquire a 51.1% controlling stake in the business. Nothing Technology Limited will remain a shareholder and partner, providing technology, engineering expertise, and supply chain integration, but will not be involved in the company's management. This restructuring follows a $100 million investment with Optiemus Infracom intended to create 1,800 jobs and expand exports to international markets, including the United States.

The strategy aims to reverse the decline of domestic Indian smartphone brands, which saw market share drop from 46% in 2015 to under 1% by 2025. CMF by Nothing targets a production benchmark of 100 million devices annually to increase leverage with global component suppliers. The move aligns with the Government of India's Mobile Phone Manufacturing Scheme, which provides ₹62,500 crore to boost domestic production. Despite the expansion, Nothing co-founder Akis Evangelidis stated that CMF by Nothing will not launch a new phone in 2026 due to rising memory prices.