Nothing Denies Reports of Exiting Global Markets, Co-Founder Calls It 'Fake News'

Nothing has strongly denied reports claiming that it is planning to exit more than a dozen global markets. The company clarified that the reports are inaccurate and reaffirmed its commitment to expanding its business.

The speculation began after a report alleged that Nothing was scaling back its global operations, reducing its workforce, and facing financial pressure despite strong growth in India. The report also claimed the company was preparing to withdraw from over 12 markets, including parts of the Middle East, Japan, and Europe.

Co-Founder Responds

Nothing Co-Founder Akis Evangelidis dismissed the report on X (formerly Twitter), calling it "fake news." He categorically denied that the company is shutting down operations in any market and rejected several other claims made in the report.

What the Report Claimed

Nothing planned to exit more than 12 international markets.

The company had reduced its global workforce by around 40%.

Its research and development teams in China and London were reportedly facing significant job cuts.

Rising memory chip prices had impacted the company`s profitability, particularly in the budget smartphone segment.

The report also suggested that Nothing`s sub-brand CMF had no plans to launch a new smartphone in 2026.

Nothing`s Clarification

Evangelidis refuted the reported sales figures, stating that the Nothing Phone (4b) sold 29,537 units on its first day, significantly higher than the figures mentioned in the report. He described the launch as a record for its price segment.

He also explained that the company is currently restructuring its teams to support future growth. This includes creating new business units focused on artificial intelligence (AI) and reorganizing country-specific operations into regional hubs.

While he acknowledged that some roles have been affected during the restructuring process, he said the reported scale of layoffs was greatly exaggerated. He added that Nothing remains committed to supporting affected employees and urged media organizations to ensure accurate reporting before publishing such claims.