Nothing Spins Off CMF as India-Based Subsidiary, Forms $100 Mn JV With Optiemus to ‘Make in India’

London-based smartphone maker Nothing has announced the spin-off of its low-cost sub-brand CMF as an independent subsidiary, with India set to become its base for operations, R&D, and manufacturing. The company has also formed a joint venture with electronics firm Optiemus Infracom Limited to manufacture and export Nothing and CMF products.

The joint venture will invest over $100 million and create more than 1,800 jobs in India over the next three years. Nothing says it has already invested over $200 million in India. The move comes as India becomes a key destination for global brands to manufacture smartphones, including Apple and Samsung.

“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,” said Carl Pei, CEO of Nothing, adding that the joint venture with Optiemus is "a key milestone toward making that vision a reality."

The announcement comes days after Nothing revealed its $200 million Series C funding round led by Tiger Global, with Nikhil Kamath joining as one of the new investors. The round valued the London-based company at $1.3 billion.

India's smartphone market, despite facing sluggish sales this year, has been strong for Nothing.

“Nothing continued its explosive rise, growing 229% year-on-year,” said Canalys Principal Analyst Sanyam Chaurasia in a July report on Q2 2025 sales. The report from the market research firm showed overall smartphone sales in India growing by just 7% year-on-year, but affordable models helped Vivo, OPPO, and others achieve double-digit growth in the April–June quarter.

Chaurasia noted that Nothing’s sales were driven by “design-led innovation that resonated with young urban consumers, with volumes led by the CMF Phone 2 Pro, Phone 3a, and Phone 3a Pro.”

“Global brands choosing India to build is a testament to the strength of the Indian ecosystem and the vision of Make in India and Atmanirbhar Bharat,” said Ashok Gupta, Executive Chairman of Optiemus. He added that this partnership "will empower us to create export-ready products designed in India, showcasing the innovation and talent of our people to the world in the coming years.”