Nothing CEO Carl Pei to make CMF an Indian company, targets 10 crore phones a year

Nothing CEO Carl Pei has announced plans to turn CMF into a standalone, majority Indian-owned company with its own headquarters and R&D operations in India. Pei wants the brand to build a global consumer electronics business and eventually reach annual smartphone sales of 10 crore units.

Nothing CEO Carl Pei has laid out an ambitious plan to build a global consumer electronics brand from India, with CMF becoming a standalone, majority Indian-owned company. In a detailed post on X titled “India Is Inevitable”, Pei confirmed that CMF would have its headquarters, management team and research and development (R&D) operations in India. Nothing will retain a stake and continue as a partner.

The announcement builds on Nothing’s September 2025 decision to separate CMF into an India-based subsidiary. CMF was formally incorporated in India in December........

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