Optiemus Infracom shares rally over 6% after $100 mn JV with Nothing Electronics for CMF 

Technology company Nothing on Thursday said that CMF, previously a sub-brand, will operate as an independent subsidiary, with India to become its base for operations, research and development, and manufacturing.

“This partnership goes beyond high-tech manufacturing—it will empower us to create export-ready products that will be designed in India, showcasing the innovation and talent of our people to the world in the coming years,” said Ashok Gupta, Executive Chairman, Optiemus.

The joint venture aims to establish India as a global headquarters for the production and export of Nothing and CMF smartphone operations. This marks a significant investment in the country’s technology manufacturing sector, reinforcing Nothing’s commitment to the Government of India’s Make in India initiative, the company said in a regulatory filing.

As part of the joint venture, Nothing and the BlackBerry phone maker Optiemus will invest over $100 million and generate more than 1,800 jobs in India over the next three years. So far, Nothing has already invested over $200 million in the country.

CMF is a sub-brand of Nothing that focuses on design and user experience, targeting a segment that has seen little change in recent years. Its products have received international recognition, such as the Red Dot Award, and have sold in the millions globally.

“CMF has been well received by the market since we launched it two years ago. With our end-to-end capabilities, we are uniquely positioned to now build it into India’s first truly global smartphone brand. Our joint venture with Optiemus is a key milestone toward making that vision a reality,” said Carl Pei, CEO of Nothing.

The announcement follows several key steps that have placed India at the centre of CMF's global operations—including moving CMF’s global marketing to India and appointing Himanshu Tandon as Vice President of CMF Business. Additionally, Nothing recently announced its $200 million Series C funding round at a $1.3 billion valuation, led by Tiger Global, with Nikhil Kamath joining as one of the new investors.

Optiemus is an electronics manufacturer in India that offers end-to-end solutions for both global and Indian brands, including manufacturing, supply chain management, and repair or refurbishment services.

Following the announcement, shares of Optiemus rallied on Thursday. At 2 PM, the stock was trading at ₹692.55 apiece, surging 3.37%.

Over a month’s time, the stock has gained 19.5%, while in six months’ time, it has soared over 59%. However, since the beginning of the year, the stock has lost 4.5%.

The company’s market capitalisation stands at ₹6,073.23 crore.