Nothing to spin off CMF as standalone Indian business; Optiemus to acquire 51.1% controlling stake; details here

Nothing has expanded its strategic partnership with the Optiemus Group, a move that could transform CMF from a Nothing sub-brand into an independent smartphone company with majority Indian ownership. Optiemus Infracom will acquire a 51.1% stake in the proposed joint venture with Nothing Electronics, giving the Indian company majority ownership of the CMF business in the new structure. Nothing unveiled the news on Tuesday, just one day after founder and CEO Carl Pei announced plans to split off CMF into a separate company. The expanded cooperation will bring together manufacturing, ownership, and research and development (R&D) of CMF smartphones in just one location in India. The announcement follows India's move towards becoming a leading global manufacturer of smartphones and a push for more innovative consumer technologies within the country. The proposed joint venture will focus on the sale and commercialisation of CMF smartphones and related components, while combining Optiemus’ manufacturing capabilities with Nothing’s technology and product expertise. Optiemus will initially hold a 51.1% stake in the new entity, making it the majority shareholder, while the partnership will also support CMF’s plans to build an end-to-end smartphone R&D ecosystem in India. The companies aim to develop capabilities across industrial design, mechanical engineering, camera engineering, software, connectivity and component engineering, taking the partnership beyond manufacturing to product development and commercialisation. The Optiemus Group will be involved in a Series A round of funding byCMF, which will further expand its involvement in the brand's future. The amount is part of the company's larger plan to make CMF an independent smartphone maker that is majority-owned by Indian investors. Nothing added that the new arrangement builds on the manufacturing joint venture announced with Optiemus in September 2025. That partner helped to promote local manufacturing of Nothing devices and CMF devices in India. Nothing will still be a shareholder in the company after the restructuring, but will not be involved in the company's management, CMF confirmed. On Monday,Carl Peisaid that India can become a country of global brands in consumer technology. He emphasised creating an integrated research and development ecosystem in the country instead of only manufacturing. India has already become a leading centre for manufacturing smartphones, said Pei. He said that approximately 99% of smartphones sold in India are produced domestically, and India has emerged as the second-largest smartphone maker in the world. The relocation is part of the government's overall strategy to boost local electronics manufacturing. The Mobile Phone Manufacturing Scheme (MPSE) was approved by the Union Cabinet earlier this year with an outlay of₹62,500 crore to support the production of smartphones and boost smartphone brands from India. Nothing said bringing manufacturing, ownership and R&D u

Original source: Mint