Nothing Announces Plans to Make CMF Subsidiary, Bolstering India’s Role in Global Smartphone Industry
London-based tech startup Nothing announces plans to establish CMF, its affordable device brand, as an independent subsidiary, with India serving as the global hub for manufacturing and research and development.
Established in 2023, CMF initially launched with a pair of earbuds and a smartwatch, followed by the introduction of smartphones under the same brand.
Nothing revealed a partnership with Indian ODM (Original Design Manufacturer) Optiemus to establish a joint venture for manufacturing. The startup did not disclose the ownership structure of this venture but indicated an investment of over $100 million over the next three years, while creating more than 1,800 jobs.
Following a successful $200 million funding round led by Tiger Global, the exact allocation of funds for setting up this new venture remains undisclosed.
The decision to base CMF’s operations in India is strategically advantageous due to several factors. The price range of CMF smartphones falls under the dominant category in India, with over 42% of phones shipped in Q2 2025 being priced between $100 and $200, according to IDC.
India has also emerged as Nothing’s strongest market, with the brand holding over 2% market share in smartphones. IDC reports that Nothing was the fastest-growing brand in the country in Q2 2025, with an 85% increase in shipments year on year.
In a statement, Nothing’s CEO Carl Pei said, “India will play a crucial role in shaping the future of the global smartphone industry. CMF has been well-received by the market since its launch two years ago. With our comprehensive capabilities, we are uniquely positioned to build it into India’s first truly global smartphone brand. Our joint venture with Optiemus is a significant step towards realizing this vision.”
The company’s recent move follows the appointment of Himanshu Tondon, formerly of Xiaomi’s spin-off brand POCO, as VP of Business for CMF.
Brand spin-offs have become increasingly prevalent in the past decade, particularly among brands based in China, with examples including Xiaomi spinning off POCO, Huawei selling off Honor, and Oppo making Realme a separate company.
