Nothing is spinning off its CMF sub-brand into a standalone, majority Indian-owned company, aiming for 100 million phone shipments annually. Carl Pei believes local brands investing in R&D are crucial to turn India's manufacturing base into globally competitive consumer electronics players. The long-term goal for CMF is to drive a deeper local supply chain and engineering ecosystem within India.
How We Got Here
Nothing launched CMF (Colour, Material, Finish) in 2023 as an affordable, design-led electronics brand for price-conscious consumers. CMF's India entity was incorporated in December 2025, laying groundwork for its independent, majority Indian-owned structure.
The Numbers
- Carl Pei noted 99% of smartphones sold in India are locally manufactured, but product development and IP largely remain overseas.
- CMF plans to bring Nothing’s existing product development capabilities, including industrial design and software, directly to India.
- CMF was initially launched in 2023 with products like the CMF Watch Pro, CMF Buds Pro, and CMF Power 65 charger.
- Pei contrasted India’s 2015 smartphone market, where domestic brands accounted for nearly half of sales but later lost ground.
What Happens Next
🇮🇳 Why This Matters for India
For hardware founders and electronics engineers in Chennai and Noida, this signals a potential new demand driver for local component and R&D partnerships, moving beyond contract manufacturing.
The Take
While Pei talks a big game, localizing R&D for 100 million units is a monumental task in a market still highly reliant on foreign component ecosystems. The real winners will be whichever Indian design and component firms CMF can genuinely integrate, if they can overcome initial cost pressures.
Source:
Inc42 ↗