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Nothing is spinning off its budget CMF brand
Nothing is spinning off its budget brand CMF into an independent subsidiary. It'll have a headquarters in India, as CMF does well in that country.
India will serve as the newly-formed company's headquarters for manufacturing and R&D, thanks to a partnership with one of the country's telecom operators. CMF has been well-received by the market since we launched it two years ago," Nothing CEO Carl Pei said in a statement. Nothing hasn't said how much money it would take to set up this new subsidiary, but the company did just raise $200 million in a funding round.
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