4 min readNew DelhiUpdated: Jul 27, 2026 08:53 AM IST
British smartphone maker Nothing has dismissed recent reports suggesting that it is preparing to exit 12 key markets, while hinting at a fresh round of layoffs as part of a broader restructuring effort.
Akis Evangelidis, the co-founder of Nothing, wrote in a post on X, “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. Evangelidis was likely responding to a recent news report from an Indian news outlet claiming that Nothing was gearing up to exit 12 markets.
Another report published by CityAM on Friday, July 24, said that the company is looking to axe 100 jobs out of its 800-strong global workforce. Over 25 jobs in the UK could also be at risk and may impact Nothing’s global marketing team, as per the report.
However, there is no confirmation on how many total jobs would be impacted and the full scale of the layoffs is unclear as consultations are reportedly still ongoing.
Nothing Phone 4b combines a plastic unibody design with a clean Nothing OS 4.1 experience powered by the Snapdragon 6 Gen 4 chipset. (Image: The Indian Express/Anuj Bhatia)
All the speculation surrounding Nothing comes at a time when electronics brands are grappling with the soaring costs of memory chips and other components due to a shortage in global supply. Earlier this month, Apple abruptly announced that it is hiking the prices of its Mac computers and iPads by 15 per cent to 25 per cent across its key markets, including India.
Since the iPhone-maker has often absorbed higher costs even during unprecedented times, Apple’s decision to raise prices was considered to be quite significant.
OnePlus, the smartphone brand co-founded by Nothing CEO Carl Pei along with Pete Lau in 2013, is winding down its operations in US and Europe as part of a broader restructuring by its parent company, Oppo, according to a report published by Bloomberg in July 2026.
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Meanwhile, Nothing has acknowledged that it is a difficult transition for the company.
“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,” Evangelidis said on X.
“While these are hard decisions, it is a necessary step to position us to shape the next era of personal computing,” he added.
Co-founded by Carl Pei and headquartered in London, Nothing has emerged as one of the UK’s tech success stories. The company on July 7, launched a mid-range handset called the Phone 4b series that has been designed to cater to customers in emerging markets and other budget-conscious buyers in a tight economic environment.
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Nothing CEO Carl Pei at the launch of its flagship store in Bengaluru. (Image: Anuj Bhatia/The Indian Express)
According to Evangelidis, the Nothing Phone 4b has received positive feedback and witnessed strong sales. Then, why is the company exploring layoffs? One potential reason could be that the move is aimed at improving efficiencies given that Nothing has grown a lot in a short span of time.
Earlier this year, Nothing opened its flagship store in Bengaluru in an attempt to accelerate sales growth in the world’s most populous country and the company’s biggest market. It has also recently launched several new smartphones and audio products, including the Ear (3a) in-ear headphones with new features and striking audio.
