The idiosyncratic gadget brand Nothing plans to raise $100 million in new investments soon, because the company is going to step it up a notch. After phones, earbuds and smartwatches, Nothing also wants to launch devices in other categories.
Nothing is talking to investors about a new financing round of $100 million. That writes Bloomberg based on insiders. The startup’s value is estimated at more than $1 billion. Not nothing for a company that was founded more than four years ago. The manufacturer wants to further expand its activities with the extra money, because there are ambitious plans.
OnePlus founder Carl Pei started Nothing in late 2020 and the startup released its first wireless earbuds with a fresh design in 2021. But that was just the beginning, because a year later the real hit came: the Nothing Phone 1, a phone with a unique design. The device stood out with its transparent casing, which shows part of the interior and light strips that flash to transmit notifications. In one fell swoop, Carl Pei had captured the attention of the tech world.
In the years that followed, Nothing released even more phones, earbuds and a smartwatch, in different price ranges. Last year, the brand’s first budget phone and a glow-in-the-dark smartphone were released.
Nothing is the most popular in these countries
Nothing is doing well. By 2024, the annual turnover of the company, which is headquartered in London, will double to more than $500 million. Another great figure: it has now sold more than 7 million units across all its product categories. What should further convince investors is that the company has also significantly improved its profit margins.
The Nothing phones are the most sold in India, followed by Germany and the United Kingdom. The brand’s earplugs are most often purchased by Americans. According to Bloomberg, Nothing wants to focus on the American market in 2026 ‘in order to challenge Apple’s iPhone more’.
What new gadgets are coming?
The company is also exploring an expansion into ‘new product categories’. It has not been leaked what type of devices are involved. Looking at Apple’s product offering, it could, for example, be a tablet, a smart speaker or a smart home product.
Nothing OS
Soon, Nothing OS 3.0, the modified Android 15 for Nothing’s smartphones, will receive a major update with AI functions.
Nothing phones also receive a new widget that allows users to play the old and beloved Nokia game Snake.
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Source: www.bright.nl
