CMF (Nothing’s sub-brand) and Indian manufacturing firm Optiemus Infracom have announced a joint venture to invest $100 million in India, with the aim to set up a global hub for smartphone operations, R&D, and manufacturing. The JV is expected to generate over 1,800 jobs over the next three years.
Under the arrangement, Optiemus will hold a 65% stake, and the facility will be located in Noida. With an initial production capacity of 500,000 phones a month, the JV is not solely intended for manufacturing Nothing and CMF devices — it will also produce phones for other brands.
Nothing currently holds about 2% of the Indian smartphone market and claims over 7 million phones sold globally to date. The company has invested more than $200 million in India so far, with plans to deepen its local footprint via this JV.
CMF began as Nothing’s in-house brand and now aims to evolve into a full-fledged global smartphone brand built out of India. “India will play a key role in shaping the future of the global smartphone industry,” stated Carl Pei, CEO of Nothing.
This JV goes beyond just manufacturing. Optiemus brings design, production, and export experience to the table. The partnership aims to produce export-ready devices from India, blending local innovation with global scale.
With the government pushing “Make in India” and incentives favoring electronics manufacturing, the timing aligns with policy momentum. If executed well, the venture could position India as a major base for smartphone exports, especially in an environment where supply chain resilience is becoming increasingly critical.
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