Nothing eyes ₹1,000cr joint venture to make India export hub
What's the story
Nothing, the London-based smartphone manufacturer, is exploring a ₹1,000 crore joint venture with leading electronics companies, as per Moneycontrol.
The main objective of this partnership is to make India a global export center for its products.
This possible collaboration would not just serve the domestic market but also make India the main manufacturing hub in Nothing's global supply chain.
Strategic meetings
Carl Pei met key partners in India
Nothing's CEO, Carl Pei, recently visited India, where he met with key partners and Electronics Manufacturing Services (EMS) firms.
The visit highlights India's increasing significance as a global smartphone manufacturing hub.
To further solidify its presence in the Indian market, Nothing has appointed co-founder Akis Evangelidis as President of India. He will be responsible for driving expansion in this crucial market for smartphones.
Market expansion
Growth and future plans
As per Counterpoint Research, Nothing emerged as the fastest-growing smartphone brand in 2024 with a phenomenal 577% year-on-year (YoY) growth. The growth was driven by the popularity of its Phone (2a) and CMF sub-brands.
For 2025, Nothing aims to grow its offline retail presence from 9,000 stores to a staggering 12,000.
Its Phone (3a) series is being manufactured at BYD India's Chennai facility.
Expansion plans
Nothing's global growth strategy
Europe is another key market for Nothing, with both regions likely to fuel its global growth.
The company has already sold over seven million devices globally across its product lines.
Tarun Pathak, Research Director at Counterpoint, said that "partnering with a reliable local manufacturer in India becomes crucial," particularly considering the current uncertainties around global supply chains and component availability.