Nothing Expands Manufacturing in India Through Joint Venture with Optiemus Infracom

Nothing, the smartphone maker backed by high-profile investors including singer The Weeknd and Google Ventures, has entered a joint venture with Optiemus Infracom to ramp up manufacturing in India. The deal is expected to generate over 1,800 jobs within three years, further solidifying the company's $200 million investment in the country. This move elevates Nothing's valuation to approximately $1.3 billion.

CEO Carl Pei highlighted India's growth potential, citing the government's 'Make in India' initiative as a catalyst for global expansion. Nothing aims to establish India's first globally competitive smartphone or smart-hardware company. Pei recently met with Minister Ashwini Vaishnaw to discuss the initiative, emphasizing India's pivotal role in the future of the smartphone industry.

The company is targeting Gen Z consumers in India, the world's most populous nation, to build the country's first international phone brand. Additionally, Nothing plans to relocate its CMF sub-brand to India, positioning the country as its global production and export hub. The CMF line has gained significant market traction since its launch two years ago.