Carl Pei Announces CMF Will Become a Standalone Indian Company
· Technology · The Hindu, 91mobiles, Gadgets360
Nothing CEO Carl Pei announced that sub-brand CMF will transition into a standalone Indian company with a majority stake owned by local stakeholders. In an open letter, Pei stated that the new entity will feature its own local team and dedicated research and development facilities within the country. Nothing will continue as a shareholder and partner in the venture, which targets an output of 100 million devices annually. Pei noted that while India consumes over 150 million smartphones a year and leads in manufacturing, it lacks a homegrown global consumer electronics brand with proprietary engineering.
Why it matters
This shift aims to build domestic intellectual property and design capabilities in India's booming consumer electronics market rather than relying on off-the-shelf imports.
Read the original report — The Hindu
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