India, Sept. 25 -- Nothing has converted CMF, its mass-market sub-brand, into an independent subsidiary and will base the unit's global headquarters and end-to-end smartphone operations in India. The company and Indian manufacturer Optiemus Infracom have signed a strategic joint venture to make India a production and export hub for Nothing and CMF devices.

As part of the agreement, Nothing and Optiemus plan to invest more than USD 100 million and aim to create over 1,800 jobs in India within three years. Nothing has already invested more than USD 200 million in India to date, according to the company's filings. The binding term sheet filed by Optiemus repeats these figures and confirms the intent to scale local manufacturing capacity.

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