Industry Odisha Bureau, Sep 22: Nothing plans to turn CMF into an independent India-based smartphone company. Carl Pei says Indian shareholders will hold majority control, with ambitions to sell 100 million phones yearly.
Nothing plans to spin off its sub-brand CMF into a standalone Indian smartphone company. Carl Pei announced the move, targeting eventual global scale. The new entity aims to sell 100 million phones annually.
CMF Moves From Sub-Brand to Company
CMF currently operates as Nothing’s budget-focused product line. Under the new plan, it becomes an independent entity. The company will be incorporated and headquartered in India. Indian shareholders will hold a majority stake. CMF will build its own team locally. Its research and development operations will also be based in India.
Nothing Stays in the Picture
The restructuring does not sever ties between the two companies. Nothing will remain a shareholder in CMF. It will also continue as a strategic partner. Nothing plans to provide engineering expertise to CMF. It will contribute operating-system capabilities as well. Supply-chain relationships will also carry over from Nothing.
India Manufacturing Meets R&D Ambition
Pei said 99% of phones sold in India are now made domestically. He called this development a significant industrial achievement. However, he identified research and development as the next challenge. Pei said much underlying intellectual property still sits offshore. He suggested few companies in India currently demand more advanced components. CMF’s expanded R&D presence could help address that gap.
CMF Targets Global Scale
CMF wants greater control over product design and specifications. The company has set an ambitious target of 100 million annual phone sales. That figure represents an aspiration, not current output. Pei believes greater manufacturing scale could attract suppliers to India. Deeper supplier involvement could strengthen the country’s electronics ecosystem over time.
$100 Million Manufacturing Partnership
CMF’s India strategy builds on an existing manufacturing partnership. The sub-brand previously announced a $100 million joint venture. Its partner, Optimus Electronics, supports local smartphone manufacturing. That venture underpinned CMF’s rapid growth in India during 2025.
From Assembly Towards Technology Ownership
CMF’s proposed structure combines Indian ownership with continued technology support from Nothing. The strategy extends beyond simple local assembly. It links manufacturing, design control and research ambitions together. Whether CMF reaches its 100-million-phone target remains to be seen. Nothing’s continuing involvement suggests a close technology partnership ahead. The plan reflects a broader push toward deeper electronics capabilities within India.
