Nothing founder Carl Pei announced the move after a meeting with Union Minister Ashwini Vaishnaw. (Photo: X/Carl Pei) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Smartphone brand Nothing has announced that it will spin off its budget-focused sub-brand, CMF, into a standalone subsidiary based in India, as part of the company's plans to scale up in the world's second-largest mobile phone market.

Nothing's founder and Chief Executive Carl Pei announced the move on X, saying he intends to build CMF into India's "first truly global consumer tech brand" while also announcing a $100 million investment plan in the country.

Pei said the new entity will be set up as a joint venture with local electronics manufacturer Optiemus Infracom Ltd.

Pei's post came on the back of a mee

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