Optiemus Infracom Limited has entered into a binding term sheet to establish a joint venture with Nothing Electronics Private Limited. This JV aims to commercialize and sell CMF products, including mobile phones. Optiemus will acquire an initial 51.1% stake in the JV, positioning India as a hub for end-to-end smartphone R&D and manufacturing, with a focus on building India’s first full-stack smartphone R&D capability.
Strategic Joint Venture to Boost Smartphone Capability
Optiemus Infracom Limited has announced a significant step towards strengthening India’s position in the global smartphone market by entering into a binding term sheet to establish a Joint Venture (“JV”) Company with Nothing Electronics Private Limited. This strategic alliance is set to drive the commercialization and sale of CMF products, including mobile phones and their associated components.
Majority Stake and R&D Focus
Under the terms of the agreement, Optiemus Infracom will initially acquire 51.1% of the equity share capital in the proposed JV Company. This initiative is designed to build India’s first end-to-end smartphone Research and Development (R&D) capability. The JV will encompass six core disciplines: Industrial Design, Mechanical Engineering, Camera Engineering, Software Engineering, Connectivity Engineering, and Component Engineering, aiming to design and engineer products domestically.
Building an Ecosystem in India
This partnership builds upon the existing strategic manufacturing joint venture announced in September 2025. The collaboration seeks to evolve into a more comprehensive entity integrating manufacturing, ownership, and R&D. The overarching goal is to create a demand-driven ecosystem in India, fostering local engineering talent, component suppliers, and product development to drive innovation and establish India as a hub for smartphone technology development and global exports, moving beyond mere assembly.
Key Details of the Agreement
The binding term sheet was entered into on September 22, 2026. While the JV is subject to the fulfillment of conditions precedent and the execution of definitive agreements, Optiemus will initially appoint one director, and Nothing will appoint one director on the Board of the proposed JV Company. The parties are not related entities, and the transaction is not considered a related party transaction. The initial acquisition of equity by Optiemus will be at face value, in accordance with applicable laws.
Source: BSE
