"Hardware startup Nothing said Thursday that it plans to make its affordable device brand, CMF, into an independent subsidiary with India serving as its headquarters for manufacturing and R&D. The company first launched CMF in 2023 with a pair of earbuds and a smartwatch. Since then, it has introduced smartphones under the brand as well. Nothing said that it is partnering with Indian ODM (Original Design Manufacturer) Optiemus to create a joint venture for manufacturing."
"India will play a key role in shaping the future of the global smartphone industry. CMF has been well-received by the market since we launched it two years ago. With our end-to-end capabilities, we are uniquely positioned to now build it into India's first truly global smartphone brand. Our joint venture with Optiemus is a key milestone toward making that vision a reality."
Nothing will make CMF an independent subsidiary headquartered in India for manufacturing and R&D. CMF launched in 2023 with earbuds and a smartwatch and later expanded into smartphones priced under $200. Nothing plans a joint venture with Indian ODM Optiemus to handle manufacturing, aiming to invest more than $100 million over three years and create over 1,800 jobs. Nothing raised $200 million led by Tiger Global but has not allocated specific funds from that round to this venture. India is a strategic market due to strong demand in the $100–$200 segment and rapid CMF shipment growth there.
Read at TechCrunch
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