Nothing, a London-based consumer tech startup founded in 2020, has raised $456 million in venture funding and achieved a $1.3 billion valuation. The company manufactures smartphones, smartwatches, and earbuds designed to compete with Apple and Samsung at lower price points. Nothing's 4a Pro phone retails for $599, undercutting the comparable iPhone 17 at $799. The company reached $1 billion in lifetime sales in 2024 and has gained significant traction on social media, with Google searches for its products up 500% over five years. The startup's success comes as venture capital funding for consumer tech has declined sharply. Consumer tech VC deals fell by half from their 2021 peak of 3,000 transactions, with investors increasingly favouring AI investments instead. Nothing's distinctive feature includes a rear display for notifications, aimed at reducing screen time whilst users keep phones face down.

Nothing, the UK tech company co-founded by Carl Pei, is restructuring its operations following the launch of its Nothing Phone (4b). Over 100 of the company's 800 employees globally could be affected by cuts, with around 25 positions at risk in the UK global marketing team, according to CityAM. Co-founder Akis Evangelidis denied reports that Nothing was exiting 12 markets, calling them "fake news". He confirmed the company is reorganising teams and introducing dedicated business units, including an AI-native division, whilst consolidating individual countries into regional hubs. The Phone (4b) sold 29,537 units on its first day, breaking records in its price segment. Evangelidis described the restructuring as a necessary step to position the company for its next phase of growth in personal computing.

Nothing, the London-based technology brand, has launched Club Nothing, a global nightlife event series focused on dance music and emerging talent. The series begins in New York on 9 July, coinciding with the launch of Ear (3a), before moving to Tokyo on 30 July. Alongside the events, Nothing is launching the Club Nothing Fund, a $40,000 initiative awarding four emerging creatives $10,000 each to develop their own club nights, event series or festivals. Applications open 1 July and close 1 August 2026, with winners announced later that month. The judging panel includes DJ Manuka Honey, A&R executive James Supreme, and music industry professionals from Nothing and Dazed. This follows Nothing's growing cultural presence, which includes Charli xcx joining as Global Brand Ambassador and shareholder in May.