London-based smartphone maker Nothing is looking to ramp up its investments in India to deepen local manufacturing with its partners as it sees strong growth in the market.
“Nothing is focused on aggressively scaling in India, with a strong emphasis on ramping up investments and fast-tracking local manufacturing. The company is also working on a more ambitious plan for India, which has been a key driver for its global growth,” a source familiar with the company’s plans told Moneycontrol on condition of anonymity.
CEO Carl Pei’s recent visit to India significantly accelerates the brand’s strategy. He took to social media platform X (formerly Twitter), emphasising India’s potential as a global smartphone powerhouse.
“India today stands where China was a decade ago in the smartphone industry—on the verge of a major revolution. With the government's push for local manufacturing, a thriving tech ecosystem, and a rapidly expanding consumer base, India has all the ingredients to become a global smartphone powerhouse,” Pei said.
A query to Nothing India didn't elicit any response.
Nothing has appointed Co-founder Akis Evangelidis as India's President to reinforce its commitment.
“India is one of the most important markets for Nothing, and we believe there is a tremendous opportunity to become a leading consumer tech brand here. We’re committed to accelerating our ‘Make in India’ initiatives and boosting domestic production,” he said in a recent statement.
As part of its 2025 strategy, Nothing is set to expand its offline presence to 12,000 stores, up from 9,000. The company’s upcoming Phone (3a) series will also be manufactured locally at BYD India’s Chennai facility.
According to Counterpoint Research, Nothing was the fastest-growing smartphone brand in 2024, achieving 577% YoY growth, driven by its success with the Phone (2a) series and the CMF sub-brand.
Tarun Pathak, Research Director at Counterpoint, attributed Nothing's rise to its unique positioning, clean stock Android experience, and strong Gen Z appeal.
“Expanding into the budget and mid-segment, along with a growing retail footprint, has strengthened Nothing’s market presence. In 2025, India remains a key focus, with plans to double investments and improve after-sales services,” he said.
With over 7 million devices sold globally and $1 billion in revenue, Nothing is betting big on India as it looks to solidify its position in the smartphone industry.
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