Last week, OnePlus announced what was rumored for months: its exit from the North American and European markets. Now a new report claims Nothing will follow suit, exiting 12 “or more” global markets.
This includes the Middle East, Japan, and “parts of Europe”. Unfortunately, the report doesn’t go into any more detail about specific countries. Nothing is also said to be reducing its workforce by 40%, while its R&D unit is facing layoffs of around 50% in China and 30-40% in London.
Nothing Phone (4a) Pro
Obviously, Nothing is impacted by the rising memory prices, and seems to want to be focusing on its best performing markets like India, where it was the fastest-growing smartphone brand in the second quarter of this year, for example.
That said, growth is relative to the comparison point, and today’s report also reveals that the Nothing Phone (4b) has only sold 20,000 units since its launch, while the Nothing Phone (4a) and Nothing Phone (4a) Pro have together reached around 150,000 units. That’s not a lot, to put it nicely.
So while Nothing might be a very regular presence in the media with its hype-building campaigns, it’s still a very small player in the overall smartphone market, and small companies are disproportionately impacted by the galloping memory prices – especially those that are playing primarily in the mass-market segment where the margins weren’t great to begin with.
Nothing Phone (4b)
Nothing Phone (4a)
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