Nothing today announced that it will separate the CMF brand as a separate subsidiary, and will be headquartered in India. With this move, it will go through the research and production process independently in India.
In line with this announcement, Nothing said that they will invest more than $100 million in this joint venture CMF and aim to create 1800 jobs over the next three years. Nothing will work with Optiemus for the purpose of device production.
India itself is one of the key markets for Nothing, where they have a market share of around 2% in India. By focusing the CMF brand there, it will be able to offer devices at more competitive prices, while gaining a larger market share. This move will also allow Nothing's own brand to focus on higher-value markets, without compromising their brand.
Previously, various brands have done the same, including Huawei which separated Honor, and Oppo which separated Realme.