CMF to become India’s first global smartphone brand with $100 million Optiemus joint venture

The London-based technology firm Nothing has revealed that CMF, which was previously a sub-brand, will now function as an independent subsidiary. This strategic shift places India at the forefront as CMF's global hub for research and development, manufacturing, and operational activities. In a significant move, Nothing has teamed up with Optiemus Infracom Limited, a prominent Indian electronics manufacturer, to create a joint venture aimed at transforming India into a global center for production and export of both Nothing and CMF products. The partnership is set to involve an investment exceeding $100 million, with the potential to generate over 1,800 jobs in India over the next three years. To date, Nothing has already invested upwards of $200 million in India, highlighting the nation’s pivotal role in the company's growth trajectory. Carl Pei, CEO of Nothing, emphasized the importance of India in shaping the future of the global smartphone market. He stated, "CMF has garnered a positive response since its launch two years ago. With our comprehensive capabilities, we are in a unique position to establish it as India’s first truly global smartphone brand. Our collaboration with Optiemus marks a significant step toward realizing this vision." Ashok Gupta, Executive Chairman of Optiemus, expressed enthusiasm about the partnership, noting that it will enhance their manufacturing capabilities for contemporary and future products. He remarked that the choice of global brands to invest in India underscores the robustness of the Indian ecosystem and the ambitious goals of initiatives like Make in India and Atmanirbhar Bharat. "This collaboration transcends high-tech manufacturing; it empowers us to create products ready for export, designed in India, which will showcase our innovation and talent to the world in the years to come," Gupta added. This announcement comes on the heels of Nothing's recent efforts to solidify its presence in India, which include relocating CMF’s global marketing operations to the country and appointing Himanshu Tandon as VP of CMF Business. Additionally, the company secured $200 million in Series C funding, achieving a valuation of $1.3 billion, led by Tiger Global along with new investor Nikhil Kamath.