Overview

• CMF will operate as an independent unit with India as its headquarters for operations, manufacturing, and R&D.
• Nothing and Optiemus are forming a manufacturing joint venture that plans to invest more than $100 million over three years.
• The companies say the venture will create over 1,800 jobs in India as they scale production and exports.
• Nothing did not disclose the JV ownership structure or how much of its recent $200 million raise will be directed to this effort.
• IDC data shows over 42% of Q2 2025 smartphone shipments in India were priced $100–$200, where CMF’s sub-$200 Phone1 is positioned, and Nothing was the country’s fastest-growing brand.