Carl Pei, the co-founder of smartphone manufacturing giant OnePlus, left the company a few months back and founded his own venture, naming it ‘Nothing’. Carl Pei had been teasing the debut of Nothing since the last few weeks, most notably during an interview with Bloomberg, but now he has confirmed that his new venture will start its portfolio with wireless earbuds.
Carp Pei raises $15 million in funding ahead of the debut of Nothing
On Tuesday (February 9), the company announced that it had raised $15 million in Series A funding round. Nothing shared the good news on Twitter while confirming that the funding was led by GV that offers venture capital funding to new companies.
Recently, Carl Pei teased an announcement of the upcoming product on Twitter and now it is confirmed that the product is indeed wireless earbuds.
Happy Monday everyone! Important announcement is coming up this week for Nothing. https://t.co/M2rQLhJnIb
— Carl Pei (@getpeid) February 8, 2021
Carl Pei, the founder of Nothing, is looking forward to the debut of Nothing this summer. The plan isn’t just to launch audio products but create an ecosystem where the devices will be able to interact with each other. In the past, Carl Pei had already shaken the world with his long list of exceptional OnePlus smartphones and he will be looking to capture the same magic with Nothing.
Nothing is working towards smart, connected consumer electronics but the company will begin with simpler products like wireless earbuds. With the debut of Nothing, these earbuds would mean the company is entering into competition with the world’s biggest tech giants like Apple, Sony, and Samsung. Interestingly, Nothing will also be competing with Carl Pei’s previous company, OnePlus, which despite being insanely popular for its smartphones, released its first pair of wireless earbuds last year.
Wireless Earbuds were an in-demand product in the market in 2020
Wireless earbuds were fairly popular in 2020, especially because of the pandemic. The wireless earbuds stormed the consumer electronics market in 2020. In fact, earbuds, along with wristwear, led the wearable segment’s shipping with 93 percent of the total share.
While smartphones will always be the popular, go-to electronic gadgets, you still need a quality pair of earphones to enjoy using your smartphone, and wireless earbuds offer just that. Hence, starting the new company with wireless earbuds could be a great option for Carl Pei as it’ll be competing in a segment that is already booming.
That said, it would be interesting to see if it manages to pull the audience towards its first product similar to how OnePlus managed to attract smartphone fanatics to it upon its debut.