Nothing cofounder Akis Evangelidis has pushed back against a report claiming the company plans to “exit 12 markets as global shipments decline,” saying the numbers are “way overblown” and that the company is not shutting down in any market.
The report accusing Nothing of exiting 12 markets appeared shortly after Indian publication digit.in made the claim.
Evangelidis said the company is instead going through a reorganization, including layoffs, while also consolidating its operations into regional hubs. He added that Nothing is also setting up an “AI-native” business unit. Evangelidis said the company is not quitting any region and is restructuring to improve efficiency as it enters its next phase of growth.
“We are introducing dedicated business units, including an AI-native business unit, and consolidating individual countries into regional hubs to operate much more efficiently,” he said, while also acknowledging that the transition is difficult for the company.
Evangelidis also rejected a separate claim that Nothing’s Phone 4B had underperformed. He said the device sold 29,537 units on Day 1 only, which, according to him, made it a record setter in its price segment.
The Phone (4b) is Nothing’s latest mid-range handset. Evangelidis said it has received positive reviews and strong sales.
The wider context is a tougher market for midrange smartphones, where Nothing mainly competes. Component prices are rising, and there is still no clear sign that the pressure will ease soon.
Last month, Evangelidis said Nothing’s budget CMF brand would not launch a new phone this year because of ongoing component shortages.
Nothing CEO Carl Pei also said last month that memory costs for the Phone 4A had doubled since its launch earlier this year. He added that RAM can now account for half the cost of a new phone.
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