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Nothing makes India home for CMF with R&D, manufacturing and $100M investment
Nothing is establishing India as the base for CMF, with the former sub-brand now operating as an independent subsidiary in the country for R&D and manufacturing, the brand confirmed to HT in a press release.
Nothing is also partnering with Indian electronics manufacturer Optiemus Infracom limited in a strategic manufacturing joint venture. Under this arrangement, India will serve as a global production and export hub for both Nothing and CMF products.
The brand says it intends to position CMF as India's “first truly global consumer technology brand, built from India for the world.” As part of the joint venture, Nothing and Optiemus Infracom will invest over $100 million, creating more than 1,800 jobs in India over the next three years. To date, Nothing has already invested over $200 million in the country.
Notably, this development comes shortly after the brand revealed it had received $200 million in Series C funding at a $1.3 billion valuation. The latest round included new backers such as Zerodha's Nikhil Kamath, while the brand has previously attracted Indian investors including producer Karan Johar, cricketer Yuvraj Singh, and YouTuber Ranveer Allahbadia. Nothing also confirmed plans to introduce a new range of devices called “AI-native” products, distinct from smartphones, combining hardware and software into a single intelligent system.
Carl Pei, CEO of Nothing, said: “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. With our end-to-end capabilities, we are uniquely positioned to now build it into India's first truly global smartphone brand. Our joint venture with Optiemus is a key milestone toward making that vision a reality.”
Ashok Gupta, Executive Chairman, Optiemus said: “We are extremely excited about this partnership with Nothing; it will allow us to further strengthen our world-class manufacturing capabilities for the products of today and tomorrow. Global brands choosing India to build is a testament to the strength of the Indian ecosystem and the vision of Make in India and Atmanirbhar Bharat. This partnership goes beyond high-tech manufacturing - it will empower us to create export-ready products that will be designed in India, showcasing the innovation and talent of our people to the world in the coming years.”
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Source: HindustanTimes
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