No Layoffs Confirmed, Dismisses Market Exit Speculation as ‘Fake News’

In light of recent reports suggesting that Nothing is planning to exit 12 markets due to declining global shipments, cofounder Akis Evangelidis clarified that the company is undergoing a reorganization and will be laying off some staff, but emphasized that “the reported numbers are way overblown.” He refuted claims of disappointing sales for the Nothing Phone 4B, asserting that it “sold 29,537 units on Day 1 alone, breaking records in its price segment.”

Evangelidis also stated that Nothing is not exiting any markets; rather, it is “consolidating” operations into regional hubs and launching an “AI-native” business unit. This update comes as rising component prices continue to pressure the midrange phone market, where Nothing primarily competes, with no immediate relief in sight. Last month, he announced that the budget CMF brand would not be releasing a new phone this year due to ongoing component shortages. Additionally, CEO Carl Pei noted that memory costs for the Phone 4A have doubled since its launch earlier this year, with RAM now potentially making up half the cost of a new device.

> 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 reorganizing 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.