Smartphone Startup Nothing Raises $100 Million To Build The Apple Of Android by StevenBertoni
Other phones on the market have a plain back, Nothing's device features 900 LED lights arranged in geometric patterns that display key information when the device is face-down. Messages from select contacts cause a bar of lights to glow gold, and important callers set off unique LED patterns. Other sections can gradually fill with light to indicate when a timer is done or when your Uber driver or take-out dinner is getting close.
Nothing remains niche. In 2022, the start-up sold 750,000 Phone s and earbuds, generating an annual revenue of $200 million. In the same year, Bank of America estimated that Apple $205 billion worth of iPhones alone. With the latest round of funding, Nothing plans to develop new phones and earbuds to expand its slim lineup."We've been so focused on engineering and shipping our products that we haven't had the chance to invest in long-term technology differentiation,” says Pei.
Pei started a strict daily routine of learning to code, getting in shape, and teaching himself guitar. In 2008, Meizu, the former MP3 company now in the smartphone market, offered Pei a marketing job in its Hong Kong office. He later moved to another hardware firm, Oppo, where he joined Pete Lau to launch OnePlus, a new phone brand that offered premium phones at a low price directly to young consumers. Pei handled sales, marketing, and product development for the international market.
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