Archive · 22 Sep 2026
Nothing Plans CMF Spin-Off as Indian-Majority Smartphone Company
Nothing wants to turn CMF into a separate smartphone company.
Optiemus Infracom, an Indian company, will own 51.1% of the proposed new business.
That means Optiemus will have control of the company.
Nothing will still own part of it but will not run it.
Optiemus will also invest in CMF’s next funding round.
The companies plan to keep manufacturing and research and development in India.
Carl Pei said India should create global consumer technology brands, not just manufacture products.
The plan supports India’s broader effort to expand local electronics manufacturing.
Optiemus Infracom will acquire a 51.1% controlling stake in CMF’s proposed joint venture with Nothing Electronics.
CMF is being developed as an independent smartphone company with majority Indian ownership.
Optiemus Group will participate in CMF’s Series A funding round.
Nothing will remain a shareholder but will not manage the restructured company.
The plan combines CMF’s manufacturing, ownership, and research and development operations in India.
- Who
- Nothing Electronics, CMF, Optiemus Infracom, and the Optiemus Group are involved; Nothing founder and CEO Carl Pei also discussed the plan.
- What
- CMF is being spun off into a proposed independent smartphone company, with Optiemus Infracom acquiring a 51.1% controlling stake.
- When
- Nothing announced the expanded partnership on Tuesday, one day after Carl Pei announced the planned CMF separation.
- Where
- The manufacturing, ownership, and research and development operations are planned to be based in India.
- Why
- The companies say the structure could strengthen India’s consumer technology ecosystem and support the country’s goal of developing global smartphone brands.
- Controlling stake
- Optiemus Infracom will acquire 51.1% of the proposed CMF joint venture.
- Future ownership
- CMF is intended to become a smartphone company majority-owned by Indian investors.
- Nothing’s role
- Nothing will remain a shareholder but will not participate in management after the restructuring.
- Funding
- The Optiemus Group will participate in CMF’s Series A funding round.
- Operations
- Manufacturing, ownership, and research and development are planned to be brought together in India.
- Indian smartphone production
- Carl Pei said approximately 99% of smartphones sold in India are produced domestically.
- Government support
- The Mobile Phone Manufacturing Scheme was approved with an outlay of ₹62,500 crore.