Nothing, the London-based tech startup, is giving its affordable brand CMF a big promotion. The company announced that CMF will now operate as a separate company, with India as its home for both manufacturing and research.
CMF started in 2023 with a smartwatch and earbuds but quickly grew to include smartphones priced under $200. That price range is hugely important in India, where almost half the phones sold fall in the $100–$200 bracket. No surprise then that CMF has clicked with Indian buyers, helping Nothing grab more than 2% of the market. According to IDC, Nothing was the fastest-growing smartphone brand in India in Q2 2025, with shipments jumping 85% compared to last year.
To push CMF further, Nothing is setting up a joint venture with Indian manufacturer Optiemus. The company plans to invest more than $100 million over the next three years and expects to create over 1,800 jobs in India through this move.
Nothing’s co-founder and CEO Carl Pei called India “central to the future of the global smartphone industry” and said the company’s goal is to make CMF India’s first truly global smartphone brand.
The company is also strengthening its leadership team. Last month, it brought in Himanshu Tandon, who previously led POCO India, as VP of Business for CMF.
Splitting CMF into a standalone company is a familiar playbook in the tech world. Brands like Xiaomi (with POCO), Oppo (with Realme), and Huawei (with Honor) have all spun off sub-brands to target specific price ranges. Analysts believe Nothing’s decision is logical since CMF has found steady demand in India’s budget segment, especially in wearables and smartphones.
For Nothing, this is more than just a restructuring. It’s a bet that India can be the launchpad for building a global smartphone brand from the ground up.
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