Nothing’s CMF to become Indian brand; to set up USD 100 mn JV with Optiemus

New Delhi, Sep 25 (PTI) London-based technology company Nothing on Thursday said CMF, previously its sub-brand, will now operate as an independent subsidiary and establish its global headquarters in India.

It plans to make India its base for operations, R&D, and manufacturing.

The company also announced a manufacturing joint venture with Indian electronics manufacturer Optiemus Infracom to make India a global production and export hub for both Nothing and CMF products.

The two partners will invest over USD 100 million (about Rs 887 crore) in the venture, which is expected to create more than 1,800 jobs in India over the next three years.

To date, Nothing’s total investment in India stands at over USD 200 million, according to a company statement.

Nothing CEO Carl Pei met Ashwini Vaishnaw, Minister of IT and Electronics, to discuss Nothing and CMF’s journey in India.

"Had the honour of meeting Minister Shri @AshwiniVaishnaw - the driving force behind Make in India and the country’s thriving tech ecosystem. There is no doubt; India will play a key role in shaping the future of the global smartphone industry.

"We discussed our journey with Nothing and our plans to establish CMF as a subsidiary headquartered in India - building it into the country’s first truly global consumer tech brand. Built from India, to the world… "… As part of this, I’m excited to announce our new manufacturing joint venture with Optiemus, one of India’s leading technology manufacturers - a key milestone in making this vision a reality. Through this JV, we plan to invest over $100M and create more than 1,800 jobs in India over the next three years," Pei said in a post on X.

The announcement follows shortly after CMF’s global marketing operations were shifted to India. PTI ANK DRR