Launches a ₹887 Crore Joint Venture with Optiemus Infracom
Nothing has officially turned its sub-brand CMF into a standalone subsidiary based in India. The announcement came as CEO Carl Pei confirmed a ₹887 crore joint venture with Optiemus Infracom. The two firms plan to invest $100 million over the next three years.
Joint Venture to Drive Jobs and Growth
The venture is expected to create more than 1,800 jobs in India, both directly and indirectly. Carl Pei, who visited India for the third time this year, also met Union Electronics and IT Minister Ashwini Vaishnaw. The meeting included the submission of the signed MoU for the partnership.
India Emerges as CMF’s Biggest Market
Pei described CMF as India’s first “truly global consumer tech brand” in making. However, the decision reflects India’s importance as CMF’s largest market by revenue. Value-conscious Indian consumers have driven strong sales for the brand, giving India a key role in its expansion strategy.
Manufacturing Hub in Noida
Sources revealed that the entire CMF lineup will eventually be produced at a new facility. This site is likely to be finalized next month. In the initial phase, only CMF phones will roll out from the unit. The plant will be operated by Optiemus Infracom, which already runs three facilities, two of them in Noida. Nothing phones, meanwhile, will continue production at the BYD facility in Chennai.
Possible Use of RhinoTech Glass
Optiemus Infracom recently partnered with Corning Inc. to manufacture RhinoTech tempered glass. Insiders suggest that this material could be integrated into CMF’s devices under the joint venture. This points to a wider scope of collaboration beyond assembly.
Funding Backed by Series C Round
The ₹887 crore commitment may draw from Nothing’s recent $200 million Series C funding round. Investors in the round included institutional backers and angel investors such as Nikhil Kamath. Nothing’s co-founder Akis Evangelidis also posted on X, writing, “Built from India, to the world. Exciting times ahead for CMF!”
