Nothing announces $100M India investment, aims to generate 1,800 jobs
What's the story
London-based consumer technology company Nothing has announced that its sub-brand CMF will now operate as an independent subsidiary. The move comes with India being chosen as the global headquarters for operations, research and development (R&D), and manufacturing. The decision highlights India's growing importance in building and scaling next-generation consumer tech brands.
Strategic partnership
Nothing partners with Optiemus to set up joint venture
As part of the transition, Nothing has partnered with Indian electronics giant Optiemus Infracom to set up a joint venture. The strategic move aims to make India a global production and export hub for Nothing and CMF products. The joint venture involves an investment of over $100 million and is expected to create more than 1,800 jobs in the next three years.
Future plans
'Will build CMF into India's first truly global smartphone brand'
"India will play a key role in shaping the future of the global smartphone industry," said Carl Pei, CEO of Nothing. "With our end-to-end capabilities, we are uniquely positioned to now build CMF into India's first truly global smartphone brand." Ashok Gupta, Executive Chairman of Optiemus, said that global brands choosing India for manufacturing is a testament to the strength of the Indian ecosystem and the vision of Make in India and Atmanirbhar Bharat.