Nothing, the London-based smartphone startup founded in 2020 by OnePlus co-founder Carl Pei, is challenging Apple and Samsung with a “retro futuristic” design approach featuring transparent casings. The company was valued at $1.3 billion after a $200 million Series C funding round in 2025, amid a 20% decline in global smartphone shipments in Q3 2026, the weakest third quarter since 2012. Samsung and Apple saw their market shares grow from 19% to 23% and from 18% to 22% respectively. Chief Brand Officer Charlie Smith is betting on community-driven, authentic marketing over performance marketing, with initiatives like the Club Nothing Fund supporting independent creators and music collectives.
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