Nothing to Spin Off CMF as Independent Indian Company
· Technology · Indian Express, GSMArena
Smartphone maker Nothing is spinning off its CMF sub-brand into a standalone entity that will be majority-owned by Indian shareholders and headquartered in India. The new company will maintain its own internal team and research and development operations while keeping Nothing as a partner and shareholder. This move aligns with the Indian government’s new Rs 62,500 crore Mobile Phone Manufacturing Scheme, which provides incentives for domestic design, R&D, and Indian-owned brands. To qualify for these benefits, the company must maintain management control with Indian citizens and hold its intellectual property within the country. Nothing will continue to provide its operating system and global brand infrastructure to the partnership.
Why it matters
The transition allows CMF to access government incentives for domestic R&D and design, potentially setting a model for other global electronics brands to localise their operations in India.
Read the original report — Indian Express
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