Nothing is set to spin off CMF, its more affordable consumer technology brand, into a standalone company headquartered in India. The new entity will be majority owned by Indian shareholders and will have its own team and research and development operations in the country.
Nothing cofounder and CEO Carl Pei said the company will continue to hold a stake in CMF and remain involved as a shareholder and partner. The structure will allow CMF to operate independently while continuing to access Nothing’s engineering capabilities, operating system, supplier relationships and global brand-building experience.
Every country that has manufactured consumer electronics at scale eventually produces its own global champions. I wrote down my thoughts on why India Is inevitable: https://t.co/KKcY26wUr6
— Carl Pei (@getpeid) September 21, 2026
CMF was launched by Nothing as a more affordable consumer technology brand, with products spanning smartphones, audio devices and wearables. Under the new structure, CMF will operate as an independent company based in India, with local engineering and R&D capabilities.
The move builds on Nothing’s broader expansion of its India operations. Nothing and Optiemus Electronics had previously announced an investment of more than $100 million over three years to expand manufacturing in India, with the partnership also intended to support CMF’s growth.
Pei has positioned the CMF spin off around a broader shift in India’s electronics industry, from manufacturing and assembly towards product engineering and R&D. He said around 99 percent of smartphones sold in India are now manufactured domestically, but much of the underlying technology and intellectual property remains outside the country.
CMF is expected to use Nothing’s existing engineering and supplier capabilities while developing more products and technology in India. Pei has also outlined a long term ambition for CMF to reach 100 million smartphones shipped annually, a scale he believes could allow the company to have greater influence over the electronics supply chain.
FAQs
- What is CMF?
CMF is a consumer technology brand launched by Nothing, offering smartphones, audio products and wearables
- What is happening to CMF?
Nothing plans to spin off CMF into a standalone company headquartered in India.
- Will Nothing still own CMF?
Yes. Nothing will retain a stake in CMF and continue as a shareholder and partner.
- Who will own the new CMF company?
The new company will be majority owned by Indian shareholders.
