Optiemus to take 51.1% in Nothing's CMF venture

New Delhi: Optiemus Group is set to take an initial 51.1% stake in a proposed joint venture that will turn Nothing's CMF brand into a standalone, majority Indian-owned company, the two firms said on Tuesday. Nothing will retain a stake and remain a strategic partner.The transaction is subject to conditions, regulatory approvals and definitive agreements. The companies did not disclose the proposed investment or say when the new entity would begin operations.The plan extends a manufacturing partnership announced in Sept 2025. The companies now want to bring product development and intellectual property creation into India alongside assembly, with CMF designing smartphones here for global markets.Their proposed R&D operation will cover industrial design, mechanical and camera engineering, software, connectivity and components. Intellectual property generated through the programme will be held locally, the companies said. They did not specify how ownership of existing CMF designs or technology would be divided between the new entity and Nothing."Now we want to bring that blueprint to India through CMF, together with Optiemus, and build it here, for the world," Nothing co-founder and CEO Carl Pei said.CMF, launched by Nothing in 2023, sells devices in more than 40 countries. Its India volumes rose 83% in 2025, according to Counterpoint Research.Get the latest Business News and Live updates. Download the TOI app.