CMF India will become a standalone company with majority Indian ownership, Nothing co-founder Carl Pei says. The budget-focused brand will be headquartered in India, with its own team and research and development operations, while Nothing remains a shareholder and partner.
Pei announced the plan in an open letter posted to X on 21 September. GizmoChina reports that CMF will take Nothing OS, engineering resources, supplier relationships and the wider brand operation with it. India Today’s report carries Pei’s description of the move as a way to build a global consumer electronics company from India.
CMF India will have its own team and R&D
The proposal gives CMF responsibility for more of the work behind its products, including industrial design, materials, thermal management, durability, camera hardware and software, operating-system updates, antenna certification and supplier relationships. Pei’s target is 100 million phones a year, a volume he says would give CMF enough influence to push suppliers beyond off-the-shelf components.
That is an ambition, not a production forecast. The announcement does not name the Indian shareholders, explain the ownership split or give a date for the legal change. It also leaves open how Nothing OS updates and support will be handled after the spin-off.
Why Nothing is spinning off CMF
The move builds on Nothing’s September 2025 joint venture with Indian electronics maker Optiemus Infracom. The partners said they would invest more than $100 million over three years and create around 1,800 jobs, with India becoming a base for manufacturing, operations and R&D.
CMF launched in 2023 as Nothing’s lower-priced brand. Nothing has since cancelled its next CMF phone for 2026 because higher memory costs made a meaningful upgrade difficult to price, while the brand continues to add products such as the CMF Buds 3.
Moneycontrol’s report says Pei sees the spin-off as a move from “Make in India” towards engineering and intellectual property developed in India. For now, CMF remains a Nothing brand in practical terms; the proposed company structure is the part changing.
Will Nothing still own part of CMF?
Yes. Carl Pei says Nothing will remain a shareholder and partner in the standalone company, while Indian shareholders will hold the majority.
When will CMF become a standalone company?
No date has been announced. Pei did not disclose the ownership split or name the Indian shareholders.
What will CMF control after the spin-off?
CMF is expected to have its own team and R&D in India, covering areas including product design, camera software, operating-system updates and supplier work.
