Nothing Spins Off Budget CMF Brand into Independent India Based Company The smartphone maker Nothing is making a significant strategic shift by spinning off its affordable product line, CMF, into a standalone company. The newly formed subsidiary will be headquartered in India, a market where Nothing has found remarkable success. India was selected as the headquarters for the new venture due to its strategic importance. It is Nothing’s strongest market globally, where the brand has captured over two percent of the smartphone market share. The company is also the fastest-growing brand in the region, boasting an impressive 85 percent year-over-year growth in shipments. The CMF brand, which specializes in budget-friendly devices priced under 200 dollars, aligns perfectly with the dominant smartphone category in India. The establishment of the new company is being done in partnership with a major Indian telecom operator and is expected to create more than 1,800 jobs within the country, focusing on manufacturing and research and development. Nothing CEO Carl Pei emphasized the importance of India in the global market. He stated that India will play a key role in shaping the future of the smartphone industry. Pei noted that CMF has been well-received since its launch two years ago and expressed confidence that with their end-to-end capabilities, they are positioned to build it into India’s first truly global smartphone brand. While the specific investment required to set up the subsidiary has not been disclosed, the move follows Nothing’s recent successful funding round where it raised 200 million dollars. It is likely that a portion of this capital will be allocated to the new CMF spin-off. The CMF brand was first introduced by Nothing in 2023. It initially launched with products like wireless earbuds and a smartwatch before expanding into the smartphone market with devices designed to offer value and style at an accessible price point. This spin-off allows Nothing to separate its premium brand identity from its more budget-conscious CMF line, potentially allowing each to focus on their distinct target audiences and market strategies.
