CMF spins off from Nothing as independent India-based brand

Carl Pei announced that CMF is separating from Nothing to become an independent smartphone company headquartered in India with majority Indian ownership. Nothing will remain a key shareholder and technology partner, with both brands sharing OS software, technologies and supply chains. The long-term goal is 100 million smartphones shipped annually.

• CMF becomes independent with majority Indian ownership
• Nothing stays a key shareholder and tech partner
• About 99% of smartphones sold in India are assembled locally, market exceeds 150M units a year
• Target is 100 million smartphone shipments annually