Sources said Nothing plans a Rs 1,000-crore joint venture with leading electronics manufacturers to establish India as a key global production hub.
Talks with potential partners are in advanced stages, and once finalised, the company plans to invest over Rs 1,000 crore in a new facility for smartphones and audio products.
Currently, Nothing manufactures its smartphones through Noida-based Dixon and BYD India. CEO Carl Pei recently met key partners in India, highlighting the country’s growing role in global smartphone production. The company has also appointed co-founder Akis Evangelidis as president of India to drive expansion.
Several Chinese smartphone brands, including Vivo and Oppo, are exploring similar joint ventures, aligning with the Indian government’s “Make in India” push. Dixon has already partnered with China’s Transsion Holdings.
Nothing was the fastest-growing smartphone brand in 2024, with 577% YoY growth driven by its Phone (2a) and CMF sub-brand. The company plans to expand its offline retail network to 12,000 stores in 2025 and is manufacturing its upcoming Phone (3a) series at BYD India’s Chennai facility.
With a strong presence in India and Europe, Nothing has sold over 7 million devices globally. Analysts say its growth strategy, pricing, and branding have helped it gain momentum as a rising challenger brand.
Wondering About Electronics Stocks? Ask the Analyst.
The future of investing is here!
Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!
