This year’s CMF phone remains on track despite rising RAM costs.

Nothing’s upcoming budget phone has fallen victim to the ongoing RAM crisis. According to a post from co-founder Akis Evangelidis, a successor to the CMF Phone 2 Pro won’t be making its debut this year. He stated, “We were working on a successor but with memory prices where they are right now, we can’t build a phone that feels like a genuine step forward at a price that makes sense for CMF. As a result, we’ve decided not to launch a new CMF phone this year.”

Last week, CEO Carl Pei echoed these concerns, revealing that the RAM shortage has significantly affected the pricing of their mid-range devices. He noted, “For Phone 4A, memory costs doubled between when we decided to build the device and when it launched. They’ve doubled again since.” Pei emphasized that “memory is now the most expensive component in a smartphone.” This issue isn’t unique to Nothing; Tim Cook recently announced that Apple would be increasing prices due to the unsustainable situation with RAM costs.

Despite the absence of a new CMF phone this year, Evangelidis mentioned that CMF still has “several new products launching as well as some entirely new categories.” He hinted that “the smartphone launch season at Nothing isn’t over yet.”