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STOCKHOLM – Swedish tech entrepreneur Carl Pei on Tuesday launched the first smartphone from his new company Nothing, in hopes of breaking a highly competitive market with new features.
Pei co-founded smartphone maker OnePlus in 2013 and made it a rival to Apple and Samsung by offering premium features at half the price and becoming the best-selling in several countries, including India.
After leaving OnePlus in 2020, he founded Nothing last year with the support of people like Tony Fadell, Apple’s iPod designer, Twitch co-founder Kevin Lin and Reddit CEO Steve Huffman.
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London-based Nothing says its smartphone offers 18 hours of use with each charge and two days on standby, and that it can reach 50% power in just 30 minutes of charging. He says the phone also has a number of remote features, including the ability to unlock the doors of a Tesla car.
The phone is priced at £ 399 ($ 470), and the company says it is cheaper than premium phones with similar features and there are more than 200,000 pre-orders.
OnePlus used an invitation-only strategy to sell smartphones that created great demand by keeping customers in a state of constant anticipation.
Following a similar strategy, Nothing conducted an auction in June for 100 new phones and secured bids of more than $ 3,000, he said.
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IDC research director Navkendar Singh said nothing will compete against Samsung, Xiaomi, Oppo and Vivo phones, but the competition will be intense.
Gartner has downgraded its forecast for global mobile phone sales this year to a 7.1% drop from 2.2% growth.
“The smartphone market is terribly competitive and is dominated by Apple and Samsung, which have incredible resources,” said Ben Wood, chief analyst at CCS Insight.
“Add to this the current macroeconomic situation and the cost of living pressure and it means that succeeding will be a big challenge.”
(1 pound = $ 1.18) (Report by Supantha Mukherjee in Stockholm, Yuvraj Malik in Bangalore and Paul Sandle in London; edited by Susan Fenton)
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