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Nothing’s budget brand CMF will not launch a new phone this year because of increased memory prices. The company plans other product launches but emphasizes financial constraints.
Nothing’s budget brand CMF will not be releasing a new smartphone in 2024, citing high memory prices as the primary reason, according to co-founder Akis Evangelidis on X.
In a post on X, Akis Evangelidis confirmed that CMF was working on a successor to the Phone Pro 2 but has decided against launching a new device this year. The decision stems from current memory price increases, which make it difficult to develop a phone that offers meaningful improvements at a reasonable price.
Memory prices, especially RAM, have surged over the past year due to supply shortages caused by manufacturers prioritizing AI-related production. Major brands like Apple and Samsung have warned of upcoming price hikes linked to these costs. IDC forecasts a nearly 10% decline in PC shipments this year, partly driven by higher component prices.
CMF launched the Phone Pro 2 in April last year, emphasizing its lightweight design and two-day battery life. Despite halting new phone releases this year, Evangelidis indicated that CMF plans to introduce several new products and explore entirely new categories, maintaining its broader product strategy.
Impact of Rising Memory Costs on CMF’s Smartphone Plans
The decision highlights how supply chain disruptions and rising component costs are affecting product launches in the smartphone industry. For consumers, this means fewer budget options from Nothing’s CMF brand this year, but potential for other innovative products in different categories. It also underscores ongoing industry challenges related to AI-driven demand and component shortages.
budget smartphone with long battery life
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Background on CMF and Industry Cost Trends
CMF, launched as a budget subsidiary of Nothing, gained attention with the Phone Pro 2, released in April last year. The brand was positioned to offer affordable, lightweight smartphones. Since then, global memory prices have increased sharply due to supply shortages and demand from AI applications, impacting many manufacturers. Both Apple and Samsung have publicly warned about rising costs, and analysts predict continued price pressures across the tech supply chain.
Despite the setback for new phone launches, Nothing remains committed to expanding its product lineup, with plans for other devices and new categories, as confirmed by Evangelidis.
“A lot of you have been asking when the next CMF phone is coming and as always we’d rather be transparent. We were working on a successor to the Phone Pro 2, but because of current memory prices, we can’t build a phone that feels like a genuine step forward at a price that makes sense for CMF.”
— Akis Evangelidis
Unconfirmed Details About Future CMF Products
It remains unclear exactly what other products CMF will introduce this year, or whether the company will revisit smartphone development once memory prices stabilize. Specific timelines for these new categories have not been disclosed, and the company’s future plans may evolve depending on market conditions.
Next Steps for CMF and Industry Outlook
CMF will focus on launching other products and exploring new categories later this year. Industry experts will watch for signs of memory price stabilization, which could influence future smartphone launches from Nothing and its subsidiaries. The company has not ruled out returning to smartphone development once supply chain conditions improve.
Key Questions
Will CMF release any new phones in 2024?
No, according to co-founder Akis Evangelidis, CMF will not launch a new phone this year due to high memory prices.
What is causing the increase in memory prices?
Supply shortages driven by manufacturers prioritizing AI-related production have caused RAM prices to surge over the past year.
Will Nothing’s main brand be affected by this delay?
No, this decision only affects CMF, the budget subsidiary. Nothing’s main brand plans to continue its product launches as scheduled.
Are there plans for CMF to return to smartphone development?
It is not yet clear; the company may revisit smartphone development once memory prices stabilize and supply chain issues ease.
Source: Engadget
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