London-based technology company Nothing has announced that its sub-brand CMF will now operate as an independent subsidiary, with India as its global headquarters. India-based Optiemus Infracom has signed and entered into a Binding Term Sheet with Nothing Electronics, an affiliate of the London-based technology company in a strategic joint venture for carrying out the business of manufacturing of electronic products of Nothing and CMF.
The joint venture marks a significant investment by Nohing in India and with this move, CMF aims to become India’s first global smartphone and smart hardware brand, built in India for the world.
CMF eyes global expansion with India-built smartphones
Optiemus Infracom, in a regulatory filing, stated said CMF will manage end-to-end smartphone operations, including R&D and manufacturing, from India. Nothing added that the move highlights India’s strength in anchoring and scaling next-generation consumer technology brands.
The companies will jointly invest over $100 million in the next three years, creating more than 1,800 jobs. Nothing has already invested more than $200 million in India.
Make in India push gets boost with CMF–Optiemus joint venture
Carl Pei, CEO of Nothing, said, “India will play a key role in shaping the future of the global smartphone industry. CMF has been well received by the market since we launched it two years ago. With our end-to-end capabilities, we are uniquely positioned to now build it into India’s first truly global smartphone brand.”
Optiemus will bring its production expertise to the partnership. Ashok Gupta, Executive Chairman, Optiemus, said, “Global brands choosing India to build is a testament to the strength of the Indian ecosystem and the vision of Make in India and Atmanirbhar Bharat.”
He added that the tie-up goes beyond manufacturing, aiming to design and export products from India that showcase local talent and innovation.
CMF shifts global marketing to India amid expansion push
The development follows a series of strategic steps by Nothing to strengthen its India presence. CMF’s global marketing operations have already shifted to India, with senior leaders such as Himanshu Tandon appointed as VP of CMF Business. Recently, Nothing also raised $200 million in a Series C funding round led by Tiger Global, which valued the company at $1.3 billion. Indian investor Nikhil Kamath also joined as part of the funding round.