Nothing Spins Off CMF as India-Led Tech Giant, Targets 100 Million Smartphones Annually
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In a significant move poised to reshape India technology landscape, Nothing has officially spun off its budget-friendly CMF brand into a standalone Indian company, with majority Indian ownership and a bold target of shipping 100 million smartphones annually. Announced by Nothing CEO Carl Pei on Monday, September 21, 2026, this strategic pivot will see CMF establishing its own headquarters and dedicated Research & Development (R&D) operations right in India, transforming from a product line under a London-based firm into a homegrown tech champion. Nothing will, however, maintain a crucial role as a shareholder and strategic partner in the new entity. This development comes amidst India growing prominence as the world's second-largest smartphone manufacturing base, where nearly 99 percent of devices sold are now made locally, but still largely rely on foreign intellectual property and engineering. CMF, which was already registered as an independent legal entity in India in December 2025 and became India fastest-growing smartphone sub-brand in 2025, aims to fill this gap by fostering in-house product development and engineering expertise. This strategy builds on an earlier $100 million joint venture with Indian electronics manufacturer Optiemus Infracom, established in September 2025, to boost local production and create over 1,800 jobs. The ambitious 100 million smartphone target signals CMF intent to become a 'platform' rather than just a 'brand,' enabling it to influence the global supply chain and drive custom component development. While CMF has paused new smartphone launches for 2026 due to rising memory costs, it plans to expand into new product categories, further underscoring its long-term vision for a comprehensive consumer electronics ecosystem built in India. This move aligns with the Indian government's Mobile Phone Manufacturing Scheme, which encourages local brands to develop proprietary technology and compete on a global scale.