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Nothing, founded in 2020 by OnePlus co-founder Carl Pei, sells smartphones (Phone series), audio products and smart wearables under the Nothing and CMF brands. These run on Nothing OS and are known for a transparent design. It sells directly to consumers and through retail and carrier partners. In September 2025 it raised a $200M Series C led by Tiger Global at a $1.3B valuation, bringing total funding to over $450M. It reported over $1B in cumulative sales by 2025, and it has said it plans AI-first devices in 2026. The company had about 800 employees in 2026 and has offices across Europe, India and North America.