London-based consumer tech startup, Nothing is currently exploring the expansion of its product categories, in India through its brand CMF. The company is engaging in discussions with contract manufacturers to kickstart production of accessories under the CMF sub brand.
According to Manu Sharma, General Manager and Vice President of Nothing India, the company is considering product categories under CMF to take advantage of the opportunity to create a mobile-centric ecosystem. They are keen on venturing into segments to increase sales volume and expand their customer base in India.
More about Nothing’s CMF Expansion
Sharma emphasized the role of CMF in bridging the quality gap in developing markets like India, where consumers are seeking high quality ecosystem products. India holds importance for Nothing and CMF is specifically designed for markets that have diverse consumers looking for value. Sharma believes there’s a market gap for products that offer design and quality which presents an opportunity for further growth for CMF in the upcoming year.
Despite challenges faced by the smartphone market Sharma highlighted a 50% increase in Nothings smartphone sales during the quarter compared to the previous year. The company is known for its premium approach. Aims to establish itself as one of the premium brands while building a strong consumer base, in India. Sharma recognized the importance of efforts, within the nation highlighting the companys dedication to design and a superior software experience, as crucial distinguishing factors.
Looking ahead to 2024, Sharma anticipates a positive outlook for the smartphone market, with the low-end segment reviving due to 5G adoption and chipset prices decreasing. The premium smartphone segment is expected to continue growing, driven by consumer demand for high-quality devices.
Nothing plans to expand its service center network, with the goal of opening exclusive service centers in major cities and increasing the total number to 35 by 2025. The company aims to strengthen its brand presence and enhance customer service as part of its growth strategy.
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