London-based tech startup Nothing has announced that its affordable brand CMF will now operate as a separate company, with India as the centre for both manufacturing and research and development.
Launched in 2023, CMF began with a smartwatch and earbuds but quickly expanded to include smartphones priced under 200 dollars. This price range is particularly significant in India, where nearly half of all phones sold fall between 100 and 200 dollars. CMF has resonated well with Indian consumers, helping Nothing capture over 2 percent of the market. According to IDC, Nothing was the fastest-growing smartphone brand in India in the second quarter of 2025, with shipments rising 85 percent compared to the same period last year.
To strengthen CMF’s presence, Nothing is forming a joint venture with Indian manufacturer Optiemus. The company plans to invest more than 100 million dollars over the next three years and expects to generate over 1,800 jobs in India through this initiative.
Carl Pei, co-founder and CEO of Nothing, described India as “central to the future of the global smartphone industry” and stated that the company aims to make CMF India’s first truly global smartphone brand.
The company is also bolstering its leadership team. Last month, it appointed Himanshu Tandon, former head of POCO India, as Vice President of Business for CMF.
Spinning off CMF as a standalone company follows a familiar strategy in the tech industry. Brands such as Xiaomi with POCO, Oppo with Realme, and Huawei with Honor have all launched sub-brands to target specific price segments. Analysts note that Nothing’s decision is logical given CMF’s consistent demand in India’s budget segment, particularly in wearables and smartphones.
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