- Nothing has denied rumors of exiting the market, calling them 'fake news', while confirming restructuring efforts following the launch of Phone (4b).
- Despite the denial, reports indicate that Nothing is planning to exit 12 markets due to declining global shipments, including regions like Japan and the Middle East.
- Phone (4b) reportedly broke records on its first day, selling 29,537 units, according to co-founder Akis Evangelidis.
- Layoffs are confirmed, with the company’s global workforce expected to shrink by around 40% as part of the restructuring.
- Nothing has faced challenges in smartphone sales, with reports indicating that disappointing sales outside India have contributed to its restructuring decisions.
- Counterpoint Research identified Nothing as India's fastest-growing smartphone brand in Q2 2026, with shipments increasing 105% year-over-year.
- CMF, Nothing's sub-brand, is also struggling, with no new smartphone planned for 2026 due to rising memory prices.
Nothing is facing significant challenges, reportedly preparing to exit 12 markets, including Japan and parts of Europe, due to disappointing sales outside India.12348
The company plans to reduce its global workforce by 40%, with layoffs affecting around 50% of its China-based R&D team and 30-40% of its London team.67
Sales figures indicate that the Phone (4b) has shipped only 20,000 units globally since launch, while the company sold approximately 2 million units in 2025. However, co-founder Akis Evangelidis refuted market exit rumors, labeling them as “fake news” and asserting that the Phone (4b) broke records with 29,537 units sold on Day 1.5
Evangelidis stated, “What we are doing is reorganising our teams to prepare for our next phase of growth,” emphasizing the introduction of an AI-native business unit and consolidation of operations into regional hubs.
Despite the restructuring, Nothing has been recognized as India’s fastest-growing smartphone brand, with a 105% year-on-year growth in Q2 2026, according to Counterpoint Research. However, the company’s sub-brand CMF is struggling, with no new smartphones planned for 2026 due to rising memory prices.9
Evangelidis acknowledged the difficulty of these transitions, stating, “Decisions that impact people’s livelihoods are never taken lightly.”
“Nothing was India's fastest-growing smartphone brand in Q2 2026 with 105% year-over-year growth, according to Counterpoint Research, but that figure excludes CMF. Meanwhile, CMF has no new smartphone planned for 2026 as co-founder cites fourfold memory price increases since September 2025, and its India head has stepped down.”
digit.in
Forbes
