Nothing is spinning off its budget brand CMF into a standalone company. The new subsidiary will be based in India, which will serve as its hub for manufacturing and research.
CMF launched in 2023 with earbuds and a smartwatch. It later expanded into smartphones priced under $200. That price range dominates India’s mobile market, making the country a strategic choice for CMF’s operations.
To support the move, Nothing is forming a joint venture with Indian manufacturer Optiemus. The company plans to invest over $100 million in the next three years and create more than 1,800 jobs.
The company recently hired Himanshu Tandon, former POCO executive, to lead CMF’s business operations.
CEO Carl Pei said the goal is to build CMF into India’s first global smartphone brand. Analysts say the spin-off helps Nothing keep its mid-premium identity while CMF focuses on entry-level devices.
The move follows a trend of brand separations in the smartphone industry, including POCO, Honor, and realme.
