India hopes to build domestic smartphone brands. Nothing’s CMF wants a share of that

Nothing's CEO Carl Pei has announced plans to spin off the company's CMF sub-brand into a standalone Indian company, with the new entity to be majority-owned by Indian shareholders and headquartered in India. This move is aimed at building a global consumer electronics brand from India, with a focus on product engineering, R&D, and intellectual property.

The announcement comes shortly after the Indian government notified its new Rs 62,500 crore Mobile Phone Manufacturing Scheme (MPMS), which seeks to encourage Indian-owned mobile phone brands and domestic design and R&D.

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