“we want to rethink the way we use a smartphone” (Interview)

In 2020, who would have imagined that a new brand could emerge in the ultra-competitive tech market? Most observers would undoubtedly have predicted certain (and rapid) death to the crazy people who would have attempted this crazy bet. However, in 2024, Nothing Tech seems to have found its audience.

Launched four years ago by former OnePlus employees (including big boss Carl Pei), Nothing Tech has managed to establish itself as a player to be reckoned with, even if its impact on the entire market remains timid. , For now. Akis Evangelidis, co-founder of the company, admits this himself: “the beginnings were difficult but today Nothing is doing well”.

With 5 million products soldthe young company, which has set up shop in London, stands out on two fronts: design and user experience. Its headphones and smartphones stand out among thousands thanks to their transparent design (and light effects on the back) as well as their software that is as refined as it is intuitive. The critical reception of the first products also pushes the brand to come and rub shoulders with the biggest.

2020-2021: first, headphones

For starters, Nothing offered headphones. The Ear(1), launched in 2020, has sold 500,000 copies. “Un bon proof case” explains Akis Evangelidis. But also a way to make yourself known by circumventing the problems inherent to a new brand.

“At the time, it was difficult to find suppliers willing to customize the look of components, explains the co-founder. So we started with headphones, which only contain 400 components compared to 4,500 for a smartphone.”

If the Ear(1) have their effect, more is needed to make a name for themselves. And in tech, to exist, you have to offer a smartphone. To provide the means for its ambitions, Nothing raises $80 million, after a pre-raise of $16 million for Ear(1) including 1.6 million in crowdfunding (raised in just one minute).

These fundraisers allow Nothing to obtain components. “This is the sinews of war” explain to Akis Evangelidis. “At the beginning, you have to pay suppliers in advance, he continues, some asked to be paid 60 days before the components were sent. At the same time, we had to develop the company, recruit, and run the production lines, manage logistics, etc..”.

2021-2022: the Phone (1), a critical but not commercial success

Somehow, Nothing managed to launch its first smartphone, eagerly awaited by admirers of Carl Pei but also numerous investors (notably the famous YouTuber Casey Neistat), observers and tech enthusiasts. The critical reception is rather good but the smartphone only sold 700,000 copies. The main criticisms made of the Phone (1) relate to its software, despite Carl Pei's expertise.

“We were eagerly awaited and we did not have the time or means to develop our own software” explain to Akis Evangelidis. So we outsourced that part, but even we weren't satisfied, it was too close to Android Stock and not enough of what we wanted to do.”

Nothing then recruits the best OnePlus engineers based in Taiwan. Carl Pei's former colleagues are working hard to develop software that matches the brand's ambitions.

2022-2023: the Phone (2) establishes Nothing as a player to count on

For its 2022-2023 season, Nothing decides to move upmarket, without however coming up against the market leaders. “Phone (2) is what Phone (1) should have been” administrator Akis Evangelidis.

Here again, the critical reception is excellent. The media gave it excellent marks and praised the work done on the interface. Nothing's identity continues to make it a distinct, bold and differentiating brand. MKBHD, the largest tech channel in the world, elects Phone (2) “Most Improved Smarthpone of the Year” (smartphone with the most improvements). A title which inevitably gave visibility to the brand.

But the Phone (2) was sold more expensive. This welcome once again translates into rather stable sales. Enough to make investors and partners impatient.

2023-2024: Phone (2a) and CMF, on the way to volume

In addition to its Phone (2), Nothing is launching in two segments: good value for money and low price. For the first, it is based on the Phone (2a), a model which incorporates everything that makes the brand stand out: very decent hardware with software offering a user experience with great detail. “Right away it works. We release 100,000 units in 24 hours” welcomes Akis Evangelidis.

At the same time, Nothing is developing CMF, a brand which allows the group to “make good value for money without the constraints of transparency, the good product that can be found on Amazon for less than 200 euros”. The CMF Phone (1) will be released in 2024 and is creating a buzz thanks to its modular format. The design teams have in fact sought to be original by making it possible to change the shell or attach accessories using a small DIY-style manipulation. All with flashy colors that make an impact. “It really is the perfect smartphone for a first smartphone” analyzes Akis Evangelidis.

This more complete proposition, which is being developed alongside ever-successful headphones, allows Nothing to extend its reach and reassure investors. If India is its biggest market (notably thanks to CMF), followed by Japan, Nothing is also doing well in Europe, particularly in Germany and Great Britain.

In 2024, the company recorded global growth of 693% in smartphones and 769% in audio.

2024-2025: Phone (3), AI, becoming the Apple of Android

Motivated by these good results, the company is now targeting the very top of the basket. In 2025, Nothing will launch its Phone (3), “the first product that will rub shoulders with the big names, like the iPhone or the Pixel” assures Akis Evangelidis. The objective is to succeed in having it adopted by operators who more easily acquire ultra-premium smartphones because they generate more margins.

The Phone (3) will score Nothing's entry into the AI ​​era. “We're not just going to add a few features, we're really going to rethink the way we use a smartphonepromises the co-founder of Nothing. We will make a first announcement at MWC but we are really looking to enter the post-applications era as described by Bill Gates in a recently published article”. And to add:

The idea is to re-establish a healthy relationship with the smartphone by lowering the connection but making it more qualitative.

A reflection almost as philosophical as defining what “nothing” is.

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