Nothing Announces Plans to Make Affordable CMF Brand Independent, Establishing India as Global Manufacturing Hub
London-based hardware startup Nothing announced plans on Thursday to establish CMF, its affordable device brand, as an independent subsidiary, with India serving as the headquarters for manufacturing and research and development.
Since its inception in 2023, CMF has launched a pair of earbuds, a smartwatch, and smartphones under the same brand. The company is partnering with Indian ODM (Original Design Manufacturer) Optiemus to create a joint venture for manufacturing. Although the exact ownership structure of this venture remains undisclosed, Nothing aims to invest over $100 million over the next three years while creating more than 1,800 jobs.
Following a $200 million funding round led by Tiger Global, the startup has yet to disclose how much of that investment will be allocated for setting up this new venture.
The strategic decision to base CMF’s operations in India is influenced by several factors. IDC reports that over 42% of phones shipped in Q2 2025 fall within the $100-$200 price range, making it the dominant category in India. Moreover, CMF has demonstrated strong performance in this market, with Nothing being the fastest-growing brand in Q2 2025, experiencing an 85% growth in shipments year over year.
Carl Pei, CEO of Nothing, stated, “India will play a pivotal role in shaping the future of the global smartphone industry. CMF has been warmly received by the market since its launch two years ago. With our comprehensive capabilities, we are ideally positioned to now develop India’s first truly global smartphone brand. Our joint venture with Optiemus is a significant step towards realizing this vision.”
Recently, Nothing recruited Himanshu Tondon from Xiaomi’s spin-off brand POCO as the VP of Business for CMF. The trend of brand spin-offs has become increasingly prevalent in the last decade, particularly among brands based in China, with examples including Xiaomi spinning off POCO, Huawei selling off Honor, and Oppo creating Realme as a separate company.
