CMF Now Independent Subsidiary of Nothing, Based in India
London-based smartphone maker Nothing has announced that CMF, its former affordable sub-brand, is now an independent subsidiary headquartered in India. The company has shifted its end-to-end smartphone manufacturing operations to India, leveraging the country’s growing electronics manufacturing capabilities.
Key Highlights:
- Manufacturing Partnership: CMF has partnered with electronics manufacturer Optiemus Infracom to produce devices in India.
- Investment: Nothing and Optiemus plan to invest in over $100 million (approximately Rs. 887 crore) in India, creating more than 1,800 jobs in the next three years.
- Existing Investment: Nothing has already invested over $200 million (about Rs. 1,774 crore) in India.
- Operations: The new subsidiary will handle end-to-end smartphone and wearable manufacturing, operations, and research and development (R&D) in India.
Background:
- Appointment: CMF appointed Himanshu Tandon, former Poco India Head, as Vice President of Business in May.
- Global Expansion: India will serve as a launchpad for CMF’s global expansion plans.
- Government Incentives: Nothing is a beneficiary of the Indian government’s Production-Linked Incentives (PLI) scheme, aimed at boosting manufacturing capabilities