Nothing confirms layoffs, but calls market exit rumors ‘fake news’

A Nothing cofounder said Phone 4B sales broke records in the price segment on day one.

In response to a report that Nothing is planning to “exit 12 markets as global shipments decline,” Nothing cofounder Akis Evangelidis said the company is “reorganizing” and laying off some of its staff, but that “the reported numbers are way overblown.” Evangelidis disputed a claim about underwhelming sales for Nothing’s Phone 4B, saying it “sold 29,537 units on Day 1 only, breaking records in its price segment.”

He also said Nothing isn’t shutting down in any markets, and is instead “consolidating” its operations into regional hubs as well as introducing an “AI-native” business unit.

The update comes as rising component prices squeeze the midrange phone segment where Nothing typically operates, with no sign of relief anytime soon. Last month, Evangelidis announced that Nothing’s budget CMF brand won’t release a new phone this year due to ongoing component shortages. Nothing CEO Carl Pei also said last month that memory costs for the Phone 4A have doubled since its launch earlier this year, and claimed that RAM can now account for half the cost of a new phone.

FAKE NEWS... We are not shutting down any markets. Inaccurate reports are being circulated; Phone (4b) sold 29,537 units on Day 1 only, breaking records in its price segment. What we are doing is reorganising our teams to prepare for our next phase of growth. We are introducing dedicated business units - including an AI-native business unit - and consolidating individual countries into regional hubs to operate much more efficiently. These changes have impacted certain positions, and while we are unable to share specific details due to regulatory compliance and ongoing local consultation processes, the reported numbers are way overblown, and we call on the media to uphold factual reporting and journalistic integrity. Decisions that impact people’s livelihoods are never taken lightly, and we know how difficult this transition is for our team members who are affected. We are deeply grateful for their contributions and are fully committed to supporting them through this process. While these are hard decisions, it is a necessary step to position us to shape the next era of personal computing.