Nothing spins CMF off into an independent entity headquartered in India

“Split up, we’ll cover more ground that way.” It’s a line you hear often in Hollywood, and now it looks like Nothing is taking that advice to heart with its budget-friendly brand, CMF. On Thursday, the company announced that CMF will officially become an independent subsidiary.

A joint venture with Optiemus

While Nothing itself is headquartered in the UK, CMF is moving operations to India, which will now serve as its base for both manufacturing and R&D. Making this possible is a joint venture with Indian ODM Optiemus. CMF has pledged to invest over $100 million into the partnership over the next three years, with plans to generate more than 1,800 jobs in the process.

India as CMF’s operational hub feels like a natural fit. According to IDC, more than 42 per cent of smartphones sold in the country fall into the $100-$200 (Rs 8,800 to Rs 17,700) price bracket. This just happens to be the exact segment CMF is gunning for. Case in point: the brand’s most recent launch, the CMF Phone 2 Pro, can be picked up at Rs 17,999.

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The timing couldn’t be better either. Citing IDC data, TechCrunch recently noted that Nothing was the fastest-growing smartphone brand in India during Q2 2025. That makes India a market Nothing simply can’t afford to ignore.

Of course, money talks, and Nothing has some in the bank. The company recently closed a $200 million Series C funding round led by Tiger Global, valuing it at $1.3 billion. It hasn’t clarified how much of that cash will go directly toward this CMF venture, but the extra runway certainly helps.

As for Optiemus, it’s hardly a newcomer. Founded in 1993, the company has experience manufacturing everything from wearables and tablets for brands like OnePlus and Realme to networking gear for TP-Link. That makes it a solid partner for CMF’s ambitions.

If this strategy sounds familiar, that’s because it is. Smartphone brands have been spinning off sub-brands for years – think Xiaomi’s Poco, Vivo’s iQOO, or Huawei’s Honor. This lets parent brands tap into new customer segments, especially budget buyers, without watering down their prestige. With CMF stepping out on its own, it looks like Nothing is betting on the same formula.