""Our users are very young," Pei said on Alex Heath's Access podcast this week. "It's pretty much impossible to be popular among everybody in the world at the very beginning, so we got to pick a lane." Pei said the company has found that its products resonate best with younger consumers who are motivated by a desire to "be different" and find their "own identity" in the devices they choose."
"As of the first quarter of 2025, Samsung took the lead in the global smartphone market, with Apple coming in a close second. They are the top two, followed by a handful of Chinese companies. Nothing, meanwhile, is carving a niche of its own. The five-year-old company now has between 800 and 900 employees and is on track to earn $1 billion in sales this year, Pei said."
The smartphone industry is difficult for newcomers, yet Nothing has reached a $1.3 billion valuation while carving a niche. The company focuses on younger consumers, with an average user age of 26, aiming to attract buyers motivated to be different and to find their own identity in their devices. Apple's brand influence is less automatic among younger users who did not grow up watching its rise, while Samsung users skew older. As of Q1 2025 Samsung leads globally with Apple close behind. Nothing employs about 800–900 people, expects roughly $1 billion in sales, and sells Phone 2 and Phone 3 models priced under $300 to $700 with a clear back design exposing internal hardware.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]