Nothing smartphone maker to cut 40% of staff and withdraw from 12 markets

The smartphone company Nothing, founded by former OnePlus executive Carl Pei, is reportedly planning a major restructuring. Sources say the firm will merge country offices into regional hubs, eliminate roughly 40% of its global workforce and pull out of more than a dozen markets, including Japan, parts of Europe, the Middle East and possibly Portugal.

Co‑founder Akis Evangelidis has publicly called the market‑exit reports "fake news" but confirmed that a reorganisation involving job cuts and office consolidation is underway. The move follows steep declines in sales of the Phone 4b and rising component costs, prompting the company to focus on stronger markets such as India.