Nothing has denied reports claiming it plans to exit more than a dozen global markets, with co-founder Akis Evangelidis calling the allegations “fake news.” The company says it is restructuring its business for future growth, not scaling back its global presence.
Last week, a report claimed Nothing would pull out of 12 or more markets, similar to OnePlus’ previous regional strategy under Carl Pei. The report also alleged that the company was cutting 40% of its workforce, including 50% of its R&D staff in China and 30 to 40% of employees in London.
Evangelidis disputed those claims, saying Nothing is reorganizing its teams by creating dedicated business units and consolidating individual countries into regional hubs to improve efficiency. While he confirmed that the restructuring has affected some employees, he said the reported layoff figures are “way overblown.” He did not disclose the actual number of affected workers, citing ongoing consultation processes and regulatory requirements.
The company also pushed back against claims about the Nothing Phone (4b). The earlier report said the device had sold only 20,000 units since its launch earlier this month. Evangelidis responded that the Phone (4b) sold 29,537 units on its first day alone, calling it a record-breaking launch for its price segment.
He also urged media outlets to maintain factual reporting and journalistic integrity, adding that decisions affecting employees are never taken lightly.
The publication behind the original report, however, continues to stand by its story. According to its author, Nothing had nearly a week to respond before the report was published but did not issue an official statement or dispute the findings at the time.
At this point, the full situation remains unclear. However, the conflicting claims over the Phone (4b)’s sales figures raise questions about the accuracy of at least part of the original report.
While Nothing denies plans to leave global markets, layoffs themselves would not be unusual. Smaller smartphone brands continue to face pressure from rising memory prices and tighter margins, particularly in the competitive entry-level and mid-range segments.