Carl Pei: CMF will become majority Indian-owned company

Nothing will spin off its CMF sub-brand into a standalone company based in India, with Indian shareholders holding the majority stake. Nothing will remain a shareholder and partner, while CMF takes Nothing OS, the engineering team and supplier relationships. Carl Pei's stated goal is 100 million phones a year.

• Indian shareholders will hold the majority stake in the new CMF company
• Nothing stays a shareholder and partner; CMF takes Nothing OS and engineers
• Carl Pei's target is 100 million phones a year
• CMF will skip a new phone in 2026 due to rising memory costs