Shares of Optiemus Infracom were in focus on Thursday, September 25, after the company announced it has signed a binding term sheet with London-based Nothing Electronics Pvt Ltd for a strategic joint venture. The collaboration aims to manufacture electronic products of Nothing and its sub-brand CMF in India, subject to statutory approvals.
As part of the agreement, Nothing and Optiemus will invest over $100 million in the next three years, creating more than 1,800 jobs in India. The Gurugram-headquartered firm said the partnership will strengthen its manufacturing capabilities and establish India as a global production and export hub for Nothing and CMF products.
Carl Pei, CEO of Nothing, said, “India will play a key role in shaping the future of the global smartphone industry. With our end-to-end capabilities, we are uniquely positioned to now build India’s first truly global smartphone brand.”
Ashok Gupta, Executive Chairman of Optiemus, added that the deal goes beyond high-tech manufacturing, with a focus on creating export-ready products designed in India.
The move is in line with India’s “Make in India” initiative and marks a significant milestone as CMF becomes an independent subsidiary headquartered in India.
