Business
Nothing Is the Fastest-Growing Smartphone Brand in H1 2024 with 567% YoY Increase
Business Wire India
London-based consumer tech brand, Nothing, has achieved extraordinary success in the first half of 2024, emerging as the fastest-growing brand with a remarkable 567% YoY growth, as reported by Counterpoint Research. This surge has been driven by the introduction of new models, like the mid-segment Phone (2a), catering to diverse consumer needs and preferences.
Commenting on the achievement, Carl Pei, co-founder and CEO, Nothing said, “The first three years were about building our operational foundations while breaking through and surviving in one of the world’s most competitive industries. This year, it’s all about scaling by expanding our smartphone portfolio and leveraging Nothing’s cutting-edge design and user experience innovations in new market segments. While I believe that market share should be the result of creating great products, not the end goal, I’m thrilled to see this growth. This success demonstrates that we are effectively executing our strategy. The most exciting part is that this achievement is fueling Nothing’s innovation, which will be a core focus for 2025.”
The company’s impressive growth is reflected in its expanding global footprint and robust product lineup. Nothing recently crossed over 4 million units shipped worldwide and reached over $500 million in revenue last year, marking significant milestones in their journey. This growth is also being supported by an aggressive expansion in India with 300 service centres including 3 exclusive service centres now operating in Mumbai, Delhi and Bengaluru, along with plans to open two additional exclusive service centres by the end of this year. Moreover, the workforce has grown by 65% over the past year and continues to grow. Already available at Flipkart, Croma, and Vijay Sales, Nothing has also more than doubled its offline presence from 2,000 to 5,000 locations.
Commenting on the achievement, Carl Pei, co-founder and CEO, Nothing said, “The first three years were about building our operational foundations while breaking through and surviving in one of the world’s most competitive industries. This year, it’s all about scaling by expanding our smartphone portfolio and leveraging Nothing’s cutting-edge design and user experience innovations in new market segments. While I believe that market share should be the result of creating great products, not the end goal, I’m thrilled to see this growth. This success demonstrates that we are effectively executing our strategy. The most exciting part is that this achievement is fueling Nothing’s innovation, which will be a core focus for 2025.”
The company’s impressive growth is reflected in its expanding global footprint and robust product lineup. Nothing recently crossed over 4 million units shipped worldwide and reached over $500 million in revenue last year, marking significant milestones in their journey. This growth is also being supported by an aggressive expansion in India with 300 service centres including 3 exclusive service centres now operating in Mumbai, Delhi and Bengaluru, along with plans to open two additional exclusive service centres by the end of this year. Moreover, the workforce has grown by 65% over the past year and continues to grow. Already available at Flipkart, Croma, and Vijay Sales, Nothing has also more than doubled its offline presence from 2,000 to 5,000 locations.
2024 has already been a landmark year for Nothing. In March, the company launched its third smartphone, Phone (2a), and in July, the CMF Phone 1. The CMF Phone 1 achieved a remarkable milestone, selling 100,000 units in just 3 hours.
Launching today, the Phone (2a) Plus represents the next step in Nothing’s ambitious growth strategy. For more information, visit nothing.tech.
