CMF to become India's first global smartphone and smart hardware company in JV with Optiemus

London-based technology company Nothing today announced that CMF, previously a sub-brand, will operate as an independent subsidiary, with India to become its base for operations, R&D, and manufacturing. This milestone demonstrates India's capability to anchor and scale next-generation consumer technology brands.

Alongside this evolution, Nothing and leading Indian electronics manufacturer Optiemus Infracom limited today announced a strategic manufacturing joint venture to establish India as a global production and export hub for Nothing and CMF products. The joint venture marks a significant investment in India's technology manufacturing capabilities, reinforcing Nothing's support for the Government of India's Make in India initiative.

Through this next chapter, CMF will pursue its vision of establishing India's first truly global consumer technology brand - built from India, to the world. As part of the joint venture, Nothing & Optiemus will invest over USD $100 million and create more than 1,800+ jobs in India over the next three years. To date, Nothing has already invested over USD $200 million in the country.

Carl Pei, CEO of Nothing, said: "India will play a key role in shaping the future of the global smartphone industry. CMF has been well received by the market since we launched it two years ago. With our end-to-end capabilities, we are uniquely positioned to now build it into India's first truly global smartphone brand. Our joint venture with Optiemus is a key milestone toward making that vision a reality."

Optiemus brings world-class engineering and production capabilities. Their proven expertise in supporting global brands and establishing robust manufacturing and export opportunities further strengthens India's position as a global hub for electronics manufacturing.

Ashok Gupta, Executive Chairman, Optiemus said: "We are extremely excited about this partnership with Nothing; it will allow us to further strengthen our world-class manufacturing capabilities for the products of today and tomorrow. Global brands choosing India to build is a testament to the strength of the Indian ecosystem and the vision of Make in India and Atmanirbhar Bharat. This partnership goes beyond high-tech manufacturing - it will empower us to create export-ready products that will be designed in India, showcasing the innovation and talent of our people to the world in the coming years."

This announcement follows recent strategic moves that have positioned India at the centre of CMF's global operations, including relocating CMF's global marketing to India and appointing senior leaders such as Himanshu Tandon as VP of CMF Business. Nothing also recently announced its USD $200M Series C funding at a $1.3B valuation led by Tiger Global, and with Nikhil Kamath joining as one of the new investors.

Shares of Optiemus Infracom Limited was last trading in BSE at Rs. 669.55 as compared to the previous close of Rs. 671.65. The total number of shares traded during the day was 45558 in over 1849 trades.

The stock hit an intraday high of Rs. 686.50 and intraday low of 665.00. The net turnover during the day was Rs. 30788615.00.

Source : Equity Bulls

Keywords

OptiemusInfracom INE350C01017 TelecomEquipment CMF JV Smartphone SmartHardware