Nothing is rumored to be the next brand to soon leave multiple markets.
Recently, OnePlus left the US and Europe, while Realme departed from China. Now, in addition to the said Chinese companies, the London-based Nothing brand is also said to be planning to exit multiple markets.
These places are allegedly the Middle East, Japan, and parts of Europe. All in all, 12 markets or more will be affected by the change.
Inside, the company is also said to be making some slashes by reducing its workforce. While its global workforce will be reduced by 40%, the R&D department in China and London is reportedly shedding 50% and 30-40%, respectively.
In terms of market performance, the brand reportedly sold only 20,000 units of the Phone (4b) since its launch, while the Phone (4a) and Phone (4a) Pro collectively sold 150,000 units. These numbers are considered underwhelming, especially compared to competitors’ sales. Moreover, it remains an underdog and is still unranked in the worldwide mobile vendor market share ranking.
With all these challenges and fierce market competition, it is no surprise that Nothing is planning to reduce its market presence to survive. For instance, during the second quarter, it was named as one of the fastest-growing brands in India, where it could re-strategize for its return to the markets it is allegedly leaving.
