Nothing Targets India’s Gen Z for Growth: Strategy and Expansion Plans

In an effort to establish the nation's first international phone brand, London-based smartphone manufacturer Nothing, which is well-known for its transparent device designs, is increasing investments in India and focusing on young people in the most populous country in the world.

On September 25, the unicorn firm revealed its plan, stating that it would establish a joint venture with Optiemus Infracom, an Indian manufacturing company that plans to invest over $100 million in the nation over the following three years.

Additionally, the U.K. corporation is moving its subbrand, CMF, to India and intends to establish the South Asian nation as its global centre for product manufacturing and export. Chief Executive Carl Pei explained why he believes there is significant development potential in the industry by stating that the government has been actively promoting the "Make in India" initiative for the past ten years.

Nothing CEO Points India as Emerging Market

Pei also emphasised the growing maturity and talent of the Indian market. The brand sees a huge chance to establish India's first smartphone or smart-hardware company that can expand internationally, he told The Wall Street Journal. 'It has never been done here before,' he continued.

In the very competitive global smartphone market, few companies outside of China have been able to compete with companies like Apple and Samsung in recent years. According to Pei, India is Nothing's largest market, followed by Europe, but the company does not anticipate achieving a 2% market share there this year.

Nothing is placing bets that its Gen Z clientele will propel it to new heights. Nothing in its industry has the youngest user base, according to Pei. Its users are 26 years old on average. Their first or second phone is still being delivered to them. It's been a calculated approach, and so far it's working well, since occasionally kids can be a little rebellious and don't want the same product as their parents and uncle."

The industry is nothing new to Pei. In 2013, he co-founded OnePlus, a smartphone maker based in Shenzhen, China. Prior to founding OnePlus with former Oppo vice president Pete Lau, he had experience working for Chinese electronics manufacturing firms Meizu and Oppo.

Nothing Rapidly Expanding its Network

Pie's most recent business endeavour, Nothing, was last valued at $1.3 billion and has been expanding quickly since its creation in 2020. The consumer technology company's sales are expected to double from 2024 to $1 billion this year.

China has been the source of all exports to markets outside of India, but the company is beginning to export goods from both nations, Pei said. According to Counterpoint Research, Nothing grew at the fastest rate in India during the second quarter for the sixth consecutive quarter. According to Chow, the company is working to develop a devoted clientele over the long haul while advancing AI-powered services and products. "Scale is the short-term challenge."