Following OnePlus's recent announcement of exiting North American and European markets, a new report suggests Nothing might also be withdrawing from 12 or more global markets, including the Middle East, Japan, and parts of Europe. The company is reportedly planning a significant workforce reduction, with an estimated 40% cut overall, and substantial layoffs in its R&D units: around 50% in China and 30-40% in London.

These strategic shifts appear to be influenced by rising memory prices and a focus on high-performing markets like India, where Nothing experienced rapid smartphone growth in Q2. However, sales figures for its devices are notably low. The Nothing Phone (4b) has sold only 20,000 units since launch, while the Nothing Phone (4a) and Nothing Phone (4a) Pro combined have reached approximately 150,000 units. This indicates that despite its media presence and hype-building, Nothing remains a small player in the smartphone industry, disproportionately affected by market pressures, particularly in the mass-market segment with already slim margins.