Nothing partners with Optiemus to spin off CMF as an independent Indian brand

Nothing is expanding its partnership with the Optiemus Group to turn its CMF sub-brand into an independent smartphone company with majority Indian ownership. Optiemus Infracom will acquire a 51.1% controlling stake in the new joint venture with Nothing Electronics. Nothing announced the restructuring on Tuesday, following founder and CEO Carl Pei's statement on Monday about splitting off CMF. The new arrangement brings manufacturing, ownership, and research and development for CMF smartphones into a single entity based in India. Optiemus will join CMF's upcoming Series A funding round to support this transition. While Nothing will remain a shareholder in the new company, it will not take part in its management. The partnership aims to build a complete R&D ecosystem in India covering industrial design, software, camera engineering, and components, moving beyond basic local assembly.