From The Economic Times · ET Bureau · · 50s
Nothing spins off CMF as Indian smartphone brand
Nothing's India sub-brand CMF becomes standalone company to make 100 million phones yearly
In brief
Nothing's India sub-brand CMF becomes standalone company to make 100 million phones yearly CMF will operate as Indian-owned smartphone brand with local R&D and supply chain Originally reported by The Economic Times.
CMF spin-off plan
Nothing plans to spin off its Indian sub-brand CMF as a standalone company targeting 100 million phones annually.
“CMF stops being a product line inside a London-based company and becomes an independent entity, incorporated in India, controlled in India and majority owned by Indian shareholders”
Indian headquarters
CMF will be headquartered in India with its own R&D team and engineering expertise from Nothing.
Local manufacturing
CMF began as a budget-focused sub-brand targeting India with a $100 million joint venture with Optiemus Electronics.
100 million target
CMF aims to sell 100 million phones yearly to influence global supply chains through Indian manufacturing.
Local IP challenge
Most intellectual property remains offshore despite 99% of Indian phones being made locally.
“Some components are made locally today, but most of the underlying IP still sits offshore, because nobody in India is asking for more than what's on the shelf”
The big picture
CMF will operate as Indian-owned smartphone brand with local R&D and supply chain
