Carl Pei Announces CMF as Standalone Indian Company

Nothing CEO Carl Pei announced that CMF will become a standalone Indian company with a majority stake owned by Indians and its own local R&D.

Nothing will remain a shareholder and partner in CMF, which aims to produce 100 million devices annually.

Pei noted that while 99% of phones sold in India are now locally manufactured, the country lacks a major domestic consumer electronics brand with native IP.