Nothing, a prominent player in the tech world, has announced plans to spin off its sub-brand, CMF, focused on more affordable smartphones, headphones, and wearables, into an independent India-based subsidiary. Here are the details.

Nothing Raises $100 Million for CMF

In a statement on X (formerly Twitter), the company’s founder and CEO, Carl Pei, stated that he aims to build CMF as “India’s first truly global consumer technology brand.” For this major move, Nothing is forming a joint venture with local manufacturer Optiemus.

Nothing plans to invest over $100 million over the next three years and create at least 1,800 new jobs. This investment is affordable thanks to the company’s recent $200 million funding round, which resulted in a $1.3 billion valuation.

This announcement comes at an interesting time for CMF, as the brand prepares to launch its first over-ear headphones on September 29th. Like all CMF products, these headphones are expected to be budget-friendly. The US beta version of the brand’s flagship smartphone, the Phone 2 Pro, is priced at $279, while its smartwatches and headphones are priced under $100.

Carl Pei’s decision demonstrates CMF’s potential to move beyond being a mere sub-brand and into a prominent player that will strengthen India’s global position in the tech space.