Editor's take: Pei has identified the true wireless earbuds market as one that's red hot in terms of consumer demand. While accurate, it's also a crowded market as several tech giants including Apple and Samsung are already active in the space with products like AirPods and Galaxy Buds Pro, respectively. To stand out, Nothing will need to be able to somehow differentiate itself through design innovation, pricing or something else.
OnePlus co-founder Carl Pei left the Chinese electronics maker in October to launch a London-based consumer technology brand named Nothing. Just weeks after announcing the startup, we now know what the firm's first product will be.
In a recent interview with Bloomberg, Pei said they are building an ecosystem of smart devices and will start with simpler products like wireless earbuds. "We're going to have multiple products throughout the year, not just audio products, and eventually we want to build it so these devices talk to each other," Pei added.
Pei managed to raise $7 million in seed funding back in December from a variety of prominent tech players including Reddit CEO Steve Huffman and iPod inventor Tony Fadell.
In the interview, Pei revealed that Alphabet's venture capital arm financed the startup's entire "Series A" round of funding to the tune of $15 million.
Tom Hulme, general partner at GV (formerly Google Ventures), said Pei's vision for smart devices is compelling, adding that they have high confidence that the Nothing team will have a "meaningful impact on the market for consumer technology."