Smartphone maker Nothing to spin off its affordable CMF brand
Hardware startup Nothing said Thursday that it plans to make its affordable device brand, CMF, into an independent subsidiary with India serving as its headquarters for manufacturing and R&D. The company first launched CMF in 2023 with a pair of earbuds and a smartwatch. Since then, it has introduced smartphones under the brand as well. Nothing said that it is partnering with Indian ODM (Original Design Manufacturer) Optiemus to create a joint venture for manufacturing. While the startup didn’t reveal the ownership structure of this venture, it said that it aims to invest more than $100 million over the next three years, while creating over 1,800 jobs. The London-based startup, following its $200 million funding round led by Tiger Global, didn’t say how much money from…
