July 27, 2026, 3:30 pm | Read time: 4 minutes
When it comes to international recognition, the London-based smartphone manufacturer Nothing punches well above its weight. By now, many are familiar with its products’ distinctive, transparent industrial design. However, global sales figures do not reflect this. With sales in the low single-digit millions, Nothing holds less than one percent of the market share. Especially in light of the ongoing memory crisis, the budget-oriented brand struggles to gain further traction. But is it really on the brink of collapse?
Last week, the Indian tech magazine “Digit” published an exposé about Nothing’s withdrawal from several global markets. Co-founder and India head Akis Evangelidis has since dismissed this portrayal on X (formerly Twitter) as “false” and “exaggerated” on X. However, Evangelidis also had to concede that significant restructuring is necessary for continued growth.
Consolidation of Individual Markets into Regional Hubs
“Digit” claims to have independently confirmed that Nothing will exit “12 or more global markets” in the Middle East, Japan, and Europe. Evangelidis clearly refutes this in his X post: “We will not be withdrawing from any market.”
However, Nothing faces major restructuring to continue growing: “We are introducing dedicated business units […] and consolidating individual countries into regional hubs to operate much more efficiently.” As Ben Schoon from “9to5Google” correctly notes, this could be misinterpreted as a withdrawal from individual markets.
The claim that Nothing has only sold 20,000 units of the Phone (4b) introduced in early July is also refuted by the co-founder. On the first day alone, the company sold 29,537 units.
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Exaggerated Claims About Job Cuts
The report from “Digit” includes the claim that Nothing plans to cut 40 percent of its global workforce. The research and development unit alone is said to lose 50 percent of its positions in China and 30 to 40 percent elsewhere.
Evangelidis calls these numbers “exaggerated” in his post–but confirms that the company is actively reducing staff. Due to ongoing consultation processes and compliance rules, he cannot comment further. Nothing is “deeply grateful” to the affected employees and will “fully support them during this process.”
What’s Next for Nothing?
After Evangelidis’ post was published, the author of the “Digit” report also spoke out on X. According to him, the magazine gave Nothing a week to provide a statement but received no response. His conclusion: “Digit stands by its story.”
It’s no secret that Nothing is facing tough times. In January, CEO Carl Pei was the first to announce higher prices for smartphones. The RAM crisis is hitting manufacturers of budget and mid-range smartphones the hardest, as they already operate with thin margins. Additionally, they lack the market power of larger players who can negotiate lower component prices. Nothing can hardly absorb higher RAM prices and must pass the costs on to customers.
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This is also why Evangelidis announced in June that Nothing’s subsidiary CMF 2026 will not launch a new smartphone. It is simply not possible to offer a well-rounded product in the corresponding price range.
Currently, Nothing’s finances can only be speculated upon. The global market share is vanishingly small at less than one percent–in most statistics, Nothing doesn’t even appear separately. However, the company has a chance, especially in emerging markets like India. According to Counterpoint statistics, Nothing is the fastest-growing smartphone brand in India. It remains to be seen whether the manufacturer can maintain its reputation as a high-quality product for little money in the face of rising costs.
“Nothing Has It Tough”
“Despite the relatively small market share, Nothing has become a real force. Many see the brand as the spiritual successor to early OnePlus–good technology for fair money. This is not only because CEO Carl Pei came from OnePlus, but also because the smartphones are generally very convincing.
They are regularly awarded Red Dot and IF Design Awards. In the tech bubble, it is more important that influencers like MKBHD (21 million subscribers) praise Nothing smartphones. For example, with awards for ‘Best Design’ and ‘Best Budget Smartphone.’
Additionally, Nothing has a strong social media presence with Carl Pei, who releases videos after product launches responding to media criticism. Or speaks comparatively openly about new devices in advance–a rarity in the industry.
All of this can only work as long as the products are a coherent compromise between performance and cost. If the smartphones become too expensive, the calculation may no longer work, and customers may turn to competitors. Therefore, the question remains to what extent Nothing can absorb higher manufacturing costs–and whether job cuts are the right solution for this.”