Nothing Spins Off CMF as India-Led Tech Giant, Targets 100 Million Smartphones Annually
In a significant move poised to reshape India's 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.







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