Nothing, a London-based hardware startup, announced its intention to spin off its affordable device brand CMF into an independent subsidiary, with India as its operational headquarters. The company aims to invest more than $100 million over the next three years in a joint venture with Indian ODM Optiemus, which will create over 1,800 jobs. CMF, launched in 2023, has introduced various products, including smartphones priced under $200, which aligns with the Indian market's demand, as over 42% of phones shipped in Q2 2025 fell within this price range. Nothing's CEO, Carl Pei, emphasized India's pivotal role in the global smartphone industry and the brand's rapid growth in the region, marking it as the fastest-growing smartphone brand in India with an 85% year-over-year increase in shipments.