Nothing's budget brand CMF will become an independent subsidiary. Its headquarters, manufacturing and R&D will be located in India, TechCrunch reports.
Nothing also announces a partnership with Indian ODM Optiemus to create a manufacturing joint venture. The ownership structure is not disclosed, but the startup plans to invest over $100 million over three years and create 1,800 jobs.
India, among other things, is one of the main buyers of budget smartphones and technology, which is what CMF specializes in. The brand's smartphones fall into the price category of up to $200 - such smartphones are responsible for 42% of shipments in India in the second quarter of 2025.
Nothing is currently seeing the biggest growth in popularity of its devices in India, according to IDC. The startup's smartphones now have about 2% of the market.
"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," said Nothing CEO Carl Pei.
CMF first launched in 2023 with wireless headphones and a smartwatch. Later, the brand also began producing its own budget smartphones. In two years, two generations of smartphones and other devices have already been released. In particular, CMF recently introduced the Watch 3 Pro for $99.