Nothing rejects market exit rumors, insists global operations remain active

OnePlus recently confirmed it would be leaving North America and Europe. A new report claims that OnePlus won’t be the only phone company looking to reduce its footprint this year. The report alleges that London-based manufacturer Nothing is planning to exit 12 markets. Now the company’s co-founder has come forward, strongly denying the claims made in the report.

Nothing co-founder Akis Evangelidis has taken to X (formerly Twitter) to respond to the report in question. Evangelidis calls the report “FAKE NEWS,” adding that they are not shutting down in any markets. The executive explains that the company is undergoing a “reorganising our teams to prepare for our next phase of growth.”

Regarding the reports of layoffs, Evangelidis states that Nothing is “introducing dedicated business units – including an AI-native business unit – and consolidating individual countries into regional hubs to operate much more efficiently.” He says that these changes have impacted certain positions, but “the reported numbers are way overblown.” According to the co-founder, he can’t share any more details about the layoffs due to regulatory compliance and ongoing local consultation processes.

The report also alleges that Nothing Phone 4b shipped approximately 20,000 units globally since its launch. Evangelidis states this is incorrect, clarifying that the Phone 4b sold 29,537 units on the first day alone. According to the executive, this was enough for the Phone 4b to break records in its price segment.