Key Takeaways
1. Nothing has achieved over $1 billion in total sales and doubled its revenue to $500 million in 2024 since its launch in 2021.
2. The company has rapidly launched multiple products, including three generations of smartphones and various models of wireless earbuds.
3. There are concerns from established smartphone brands about Nothing’s growth, leading to allegations of them spreading negative information about the company.
4. CEO Carl Pei views the fear from larger competitors as a sign of respect and advocates for fair competition in the industry.
5. The success of Nothing and its innovative products benefits consumers by increasing competition and providing better options in the market.
Since starting in 2021, Nothing has seen huge success. The company is said to have surpassed $1 billion in total sales and has doubled its yearly revenue to $500 million in 2024. This rapid growth is quite remarkable, especially since Nothing only released its first product, the Ear (1) earbuds, in 2021 and its first smartphone, the Phone (1), in 2022.
Rapid Product Launches
In just three years, Nothing has launched three generations of phones, with the latest being the Phone (3a) and Phone (3a) Pro, along with several different wireless earbuds in the Nothing Ear series. The brand has even created a budget sub-brand called “CMF,” which features the CMF Phone 1 and other accessories like the CMF Watch and CMF Buds.
Competitive Concerns
It’s clear that such a fast growth rate might make established smartphone brands a bit anxious. Nothing’s CEO, Carl Pei, has confirmed that he’s heard rumors about larger smartphone companies “paying people to write negative things” about Nothing.
Pei asserts that this kind of propaganda from much larger smartphone makers is intended to either fabricate problems with Nothing’s products or exaggerate existing ones. This misinformation is designed to steer consumers away from purchasing Nothing products.
Respect in Competition
Although Carl Pei doesn’t mention specific competitors, he expresses satisfaction that “companies that are 150 times bigger than us are scared of us.” He sees this as a sign of respect and hopes that the industry can operate on a fairer playing field that ultimately benefits customers.
Ultimately, it doesn’t really matter if some alleged competitors are using underhanded methods to undermine Nothing as long as the company continues to roll out innovative products. So far, they’ve been successful in doing just that, and the achievement of Nothing is beneficial for consumers, as more competition leads to better options.
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