Overview
- Nothing announced the spin‑out on Monday, September 21, saying CMF will be a standalone, majority Indian‑owned company headquartered and engineered in India with Nothing as a minority shareholder and partner.
- Reports on September 22 say Optiemus will take a reported roughly 51.1% stake and join CMF's upcoming Series A to operationalise a single India‑based entity covering manufacturing, ownership and R&D, with final terms subject to definitive agreements.
- Nothing will transfer core engineering assets to CMF, including its in‑house Android build, Nothing OS, industrial design work and direct supplier relationships for displays, chipsets and camera modules.
- CMF plans to build full‑stack R&D in India across industrial design, mechanical, camera, software, connectivity and component engineering with locally held intellectual property and a long‑term target of about 100 million annual shipments.
- The move builds on India’s rising phone production and the government’s MPMS incentives and could shift value from assembly to local design and jobs while CMF pauses some short‑term phone launches because of component cost pressures.