Synopsis
On February 26, 2023, Nothing reaffirmed its commitment to its 'Make in India' initiatives with the appointment of Akis Evangelidis as the President for India, emphasizing the country's strategic importance in their overall growth plans.Key Takeaways
- Nothing prioritizes India in its growth strategy.
- Akis Evangelidis appointed as Country President.
- Plans to manufacture Phone (3a) Series in Chennai.
- Company aims to boost local production and investments.
- India is pivotal for Nothing's rapid growth in the smartphone sector.
New Delhi, Feb 26 (NationPress) Emphasizing the significant role of India in its broader strategy, the London-based tech firm Nothing declared its dedication to enhance its ‘Make in India’ initiatives on Wednesday. This announcement coincided with the appointment of Co-founder Akis Evangelidis as the President for the country.
In this newly established position, Evangelidis will spearhead the company’s strategic expansion and operations within India.
“India is among the most crucial markets for Nothing, and we perceive a vast opportunity to emerge as a leading consumer technology brand in this region,” stated Evangelidis.
“I am thrilled to embrace this new role and persist in delivering unique, design-driven tech innovations to Indian consumers. India is set to be a central player in the global smartphone market in the forthcoming years, and we are devoted to expediting our ‘Make in India’ initiatives while enhancing domestic production,” he added.
By 2025, the company is intensifying its efforts by increasing investments in India and broadening its offline presence to over 12,000 retail outlets.
To affirm its dedication to India, Nothing has revealed that its forthcoming Phone (3a) Series will be produced in Chennai.
The new smartphone is scheduled for launch on March 4. By manufacturing devices locally, the company aims to fortify its foothold in the Indian market and support the nation’s burgeoning manufacturing sector.
India has been instrumental in Nothing’s swift ascent. In 2024, the company emerged as the fastest-growing smartphone brand in India, achieving an impressive 577 percent year-on-year (YoY) growth, as per Counterpoint’s Q4 2024 India Smartphone Tracker report.
India’s involvement in the global smartphone sector is on the rise, bolstered by governmental initiatives and a tech-savvy consumer base.
Recent government statistics indicate that approximately 99.2 percent of mobile phones sold in India are now manufactured locally, with the manufacturing value soaring to Rs 4,22,000 crore, and exports exceeding Rs 1,29,000 crore in 2024.
