Nothing’s CMF becomes independent subsidiary, sets home base in India

London-based Nothing Inc, on Thursday (September 25) announced that the CMF, which was company’s sub-brand, will operate as an independent subsidiary.

India will be CMF’s HQ and will also host the company’s full-fledged Research and Development (R&D) centre. Also, in a boost to centre's 'Make in India' initiative, the parent company has signed a strategic partnership with Noida-based OEM (Original Equipment Manufacturer) Optiemus Infracom Limited to manufacture its devices, not just to cater to the local market but also for exports to the international regions.

“India will play a key role in shaping the future of the global smartphone industry. CMF has been well received by the market since we launched it two years ago. With our end-to-end capabilities, we are uniquely positioned to now build it into India’s first truly global smartphone brand. Our joint venture with Optiemus is a key milestone toward making that vision a reality,” said Carl Pei, CEO of Nothing.

As part of the joint venture, Nothing Inc. and Optiemus have pledged investment worth over USD $100 million and create more than 1,800 jobs in India over the next three years. To date, London-based firm has so far invested over USD $200 million in the country.

CMF forayed in the consumer electronics arena with the launch of the Phone 1, a budget phone, in July 2024. It also announced the Watch Pro 2 and Buds Pro earphones. 

Since then, CMF has powered Nothing Inc register record growth in India, the world’s fastest and second biggest smartphone market.

In 2024, Nothing Inc. recorded an impressive 577 per cent year-over-year growth in its India business.

Himanshu Tandon, VP of Business CMF (left) with Carl Pei, co-founder and CEO of Nothing Inc.

Last quarter (April-June, 2025), the Carl Pei-led company witnessed the highest YoY growth of 84.9 per cent in the subcontinent. It is the first phone brand to maintain the fastest growth for seven consecutive quarters in more than a decade.

To maintain the momentum, recently, CMF's global marketing team was shifted to India and Himanshu Tandon, former head of Poco India, was made as vice president of CMF Business. 

Thanks to continued success in India and worldwide, Nothing Inc. was able to secure $200M Series C funding at a $1.3 billion valuation led by Tiger Global, and with Nikhil Kamath (Zerodha co-founder) joining as one of the new investors. 

Later this year, the company, which operates a handful of fully-owned repair centres, is set to launch its first-ever retail store in India.

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