Nothing co-founder Akis Evangelidis denies shutdown and layoff reports, says company is restructuring teams and launching an AI-native business unit for growth.
Nothing has denied reports claiming the company is exiting multiple international markets and undertaking large-scale layoffs, calling the claims inaccurate. Co-founder Akis Evangelidis said the company is instead reorganising its global teams, including setting up a dedicated AI-native business unit, to prepare for its next phase of growth. He also rejected sales figures reported for the Phone 4b, stating the device recorded strong first-day numbers.
'We are not shutting down'
Evangelidis addressed the speculation directly, stating that the reports circulating about the company's operations were not accurate. "We are not shutting down any markets. Inaccurate reports are being circulated," he said, adding that the Phone (4b) had sold 29,537 units on its very first day alone, which he described as a record for its price segment.
Reorganisation aimed at future growth
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