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Carl Pei, CEO of Nothing, sees India on the brink of a smartphone revolution, similar to China a decade ago. Nothing’s 510% growth in India shows its strategic success
Nothing recorded a staggering 510% year-on-year growth in shipments in the third quarter of 2024. (X@getpeid)
Nothing co-founder and CEO Carl Pei has recently compared the Indian smartphone market to China a decade ago, stating it is poised for a “major revolution”.
Pei, who is visiting India, took to his X handle to praise the government’s efforts in local manufacturing and highlight the country’s “thriving tech ecosystem” and “rapidly expanding consumer base”. He believes these factors are driving significant change within the Indian smartphone industry.
Pei’s comments came alongside the revelation that India is now the biggest market for Nothing, the company he founded in 2020 after leaving OnePlus.
India today stands where China was a decade ago in the smartphone industry – on the verge of a major revolution. With the government’s push for local manufacturing, a thriving tech ecosystem, and a rapidly expanding consumer base, India has all the ingredients to become a global… pic.twitter.com/ELXBlf6OKw— Carl Pei (@getpeid) March 17, 2025
“India today stands where China was a decade ago in the smartphone industry – on the verge of a major revolution,” Pei tweeted. He added in a recent interview, “Now that the China story is slowing down, I am very optimistic about India.”
Nothing’s growth in India has been impressive. The brand recorded a staggering 510% year-on-year growth in shipments in the third quarter of 2024, making it the fastest-growing smartphone brand in the region. This success underscores the effectiveness of Nothing’s strategy in this key market.
Known for its innovative and aesthetically driven products, Nothing first gained recognition with its Ear (1) wireless earbuds, launched in July 2021. The earbuds were praised for their distinctive transparent design and competitive pricing. Building on this success, Nothing expanded its offerings to include the Phone (1) and other audio devices, always emphasising a minimalist design ethos and seamless user experience.
2024 proved to be a pivotal year for the company, as Nothing doubled its annual revenue to over $500 million and surpassed $1 billion in lifetime sales. This impressive growth is a testament to the company’s commitment to design, transparency, and user-centricity, which has earned it a loyal following and industry accolades.
CEO and co-founder Carl Pei, born on September 11, 1989, in Beijing, China, is a seasoned entrepreneur with a keen understanding of the consumer electronics market. Before Nothing, Pei co-founded OnePlus in 2013, playing a critical role in establishing the smartphone company’s global presence. His vision for Nothing centres on bridging the gap between people and technology. Under Pei’s leadership, Nothing has become synonymous with innovation and distinctive product design.
Pei’s ability to identify market opportunities and translate them into products that resonate with consumers has been a hallmark of his career. His leadership, characterised by a focus on creativity, user experience, and strong brand identity, has been instrumental in propelling Nothing’s rapid ascent and success.
- Location :
Delhi, India, India
