Nothing is separating its affordable product line, CMF, into an independent company with headquarters in India.
Carl Pei, the CEO and founder of Nothing, shared the news on social media, outlining a vision to develop CMF into a worldwide technology leader that originates from India. To support this goal, he confirmed a substantial investment of $100 million US dollars for its operations within the country.
The newly formed subsidiary will operate as a joint venture with Optiemus Infracom Ltd, a domestic electronics maker. Pei’s announcement came after discussions with Ashwini Vaishnaw, India’s Minister for Electronics and Information Technology.
This 100 million dollar funding will be deployed over a three-year period. The company anticipates that this initiative will generate employment, with expectations of adding over 1,800 jobs to India’s electronics design and manufacturing landscape.
The CMF label has already found a receptive audience in India by providing stylish gadgets at accessible price points. Its audio products, like wireless earbuds, have been particularly well-received. The CMF Phone 2 Pro smartphone is also well-liked in the tech community. In the Philippines, Nothing and CMF products are officially sold by Digital Walker.