Optiemus Infracom approved a binding term sheet with Nothing Electronics for a joint venture to sell CMF phones and parts in India.

Under the agreement, Optiemus will initially hold 51.1% of the equity in the new JV company, taken up at face value.

This gives the company a controlling stake in the venture right from the start, though the deal still needs conditions precedent to be met and definitive agreements to be signed before it becomes final.

The two companies have kept the governance structure fairly simple for now. Optiemus and Nothing will each nominate one director to the board of the new entity once it is formed.

The company has also confirmed that this is not a related party transaction, meaning Nothing Electronics is not connected to Optiemus through common ownership or management.

This is not the first time the two companies have worked together. Back in September 2025, they had already set up a manufacturing partnership that made India a production base for Nothing and CMF devices.

That earlier collaboration eventually led to another joint entity called The Factory Private Limited, which received approval from the Ministry of Corporate Affairs in December 2025, with Optiemus holding a 65% stake in it.

This new term sheet builds on that foundation but goes further. Rather than just manufacturing, the plan is to build India’s first full-stack smartphone R&D setup, covering everything from industrial design and camera engineering to software and connectivity work.

Optiemus is also expected to join Nothing’s upcoming Series A funding round for the CMF brand, according to the company’s disclosure.

The broader partnership between the two firms has previously involved plans to invest over $100 million in India over three years and create more than 1,800 jobs, according to earlier company disclosures.

The next milestone to watch for will be the signing of definitive agreements, which will confirm the final structure and timeline of the joint venture.

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