In the smartphone market, Carl Pei, the founder and CEO of Nothing, is seeking opportunities to attract young consumers, as the company is currently valued at $1.3 billion. In a recent episode of the Access podcast, he stated that Nothing’s user base primarily consists of young people, with an average age of just 26.
Pei pointed out that it’s quite challenging for a brand to quickly gain global recognition, which is why they opted for a clear market positioning. He discovered that Nothing’s products particularly resonate with young people who are looking for uniqueness and a sense of identity in their tech gadgets.
He mentioned that while Apple’s brand influence remains strong, the younger generation hasn’t witnessed Apple’s rise firsthand, which has diminished the brand’s appeal in that segment of the market.
According to market reports, the average age of Samsung users is 45, while about 70% of Apple users fall between the ages of 18 and 44. Even though Samsung currently leads the global smartphone market, Apple follows closely behind, and Nothing is working hard to carve out its own market niche.
Pei revealed that Nothing has grown to 800 to 900 employees within just five years and is projected to achieve $1 billion in sales this year. Nevertheless, he believes that it will still take a long time for Nothing to catch up to Apple, emphasizing that the pace of the brand’s development is crucial.
Pei also mentioned that Nothing is exploring a “new product form” that doesn’t directly compete with Apple products, to promote coexistence between the two. Besides smartphones, Nothing has also launched watches, headphones, and apparel.
