Nothing is gearing up to substantially expand its footprint in India, with the company looking to scale up local manufacturing, invest further in research and development, and widen its product portfolio once the government unveils the Production Linked Incentive (PLI) 2.0 scheme.
In an exclusive interaction with NDTV Profit, Nothing Co-founder Akis Evangelidis said, “The company's trajectory in India closely reflects the country's broader economic rise, with India emerging as one of its most important global markets,”
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Evangelidis said India is on a transformative growth path and is expected to become an $8 trillion economy by 2030.
Alongside rapid economic expansion, changing consumer preferences, a growing technology ecosystem and increasing manufacturing capabilities are making India a strategic investment destination for global electronics brands, Evangelidis said.
He noted that India is evolving into a global manufacturing powerhouse, pointing out that a rising share of global smartphone production—including one in four iPhones—is now coming from the country.
Nothing has already begun exporting smartphones manufactured in India and intends to deepen local sourcing and production.
The company is now looking beyond assembly, with plans to invest in research and development while collaborating more closely with local manufacturers.
Evangelidis said the government's policy support has helped newer players like Nothing to establish a stronger foothold, and the company is "eagerly awaiting the operational guidelines for PLI 2.0 to accelerate its next phase of investments.”
Speaking about the company's future plans, he said Nothing also intends to expand its manufacturing operations in India beyond smartphones.
Its first smartwatch is already being produced in India through its joint venture with Optiemus, while additional Internet of Things (IoT) devices are expected to follow.
The smartphone business, however, will remain its primary focus as it simultaneously works on AI-native hardware and a broader connected device ecosystem, he said.
On the market outlook, Evangelidis said premiumisation in the smartphone segment continues to gather pace, with consumers increasingly prioritising overall user experience over raw specifications.
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He expects artificial intelligence to fundamentally reshape smartphones over the next year, making devices more productive while remaining largely invisible in the user experience.
Chip Prices Hurting
The company also warned that rising global memory prices are creating fresh cost pressures across the industry.
Evangelidis said higher memory costs have already forced some manufacturers to cancel or delay products, prompting Nothing to pause the launch of its next CMF smartphone rather than compromise on quality.
He said smartphone prices are likely to rise further as component costs increase, adding that consumers should not expect cheaper devices in the near term.
While rivals may soften launches or delay price hikes, Nothing intends to prioritise product quality and user experience over aggressive pricing.
Looking ahead, Nothing plans to expand its offline retail footprint by opening two more flagship experience stores by the first quarter, with Mumbai and Delhi among the cities under consideration.
The company also plans to scale up its partnership with Royal Challengers Bengaluru (RCB), increase investments in India and accelerate its smartphone business, underscoring that it remains firmly committed to the country for its next phase of growth.
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