We’ve just started a new year, and I wanted to share my reflections. Hopefully this will give everyone context of where we are today, where we’re heading, and our priorities. Excited to hear your thoughts and opinions!
Our Opportunity
Over the past 20 years, significant progress has been made in technologies such as connectivity, batteries, silicon, cameras, and cloud. These advancements have changed the way we interact with computers, transformed how we live our lives, and significantly boosted efficiency.
The companies behind this charge have been rewarded for their contributions, and as a result have become huge and successful. In the process, they’ve also shifted their strategy from innovation to defending their dominant positions. Going forward, they will focus on steady innovation, rather than breakthrough innovation.
Our industry is ripe for new innovation and excitement. Startups, who usually have the role of testing new ideas and innovating, have a hard time participating in this industry due to its high barriers to entry. Yet, mobile computing is the biggest consumer product category in the world, with no signs of being replaced any time soon.
Nothing occupies a special time and place in history. On one hand, we’ve managed to establish a foothold in this industry with no more than 10 companies around the table. On the other hand, we’re the youngest and smallest, with a lot of nimbleness and maneuverability. It feels like the baton has been passed to us, and we’re the one of the only ones with a shot of doing something significantly different.
In our first stage, we needed to build foundational capabilities. With 5 products launched, and 2 million shipments; we’ve done this. With both wins and losses under our belt, we’ve learned and matured as a team along the way.
Today, we have more options of where to go next than ever before.
Focus Areas in 2024
1. Co-create Deeper With the Community
This year, we’re excited to take a major step forward in realizing our Community Vision. There’s an enormous amount of talent in our Community that regularly engages, innovates and inspires us to further push the boundaries of technology. We will work closer with our Community, and create opportunities to build together. Community creations such as Ear (PC) from RapidZapper, and Nothing Gallery by kahluabear and Alkid are just a few of the examples of impressive community projects that inspire us daily. Be on the lookout this year for more significant ways to co-create with us. It will be an interesting one for sure!
2. Grow in Scale and Become Even More Capable
Because our peers are all so big, there’s a very high base level of scale required to operate with some semblance of normalcy in our industry. Below that scale, we’ll always have a bunch of disadvantages in terms of COGS, cashflow, engineering capability, and technology investment to name a few.
The only solution is to grow in scale, and the only way to do so is to figure out who we are, who we serve, and how to best serve them through our products and services. Timing is important. We need to figure out what to do and when. Considering both external factors and internal resources, doing things in the right order for optimal impact.
We are now in the strongest position to accelerate our brand presence through smartphones, audio products and the CMF by Nothing brand.
3. Flex Our Creative and Innovation Muscles to Inspire
From the beginning, we’ve played it very safe in order to build our foundational capabilities. However, we are now at a point where we can trade off some stability for more creativity.
Going forward, we will strengthen our creativity and innovation capabilities, drive up awareness of our brand, and more importantly; earn people’s trust that we are going to surprise and capture their imaginations with fresh user experiences.
We will put special focus on the audio category, as it’s less impacted by Apple’s lock-in effect on smartphones. With lower barriers, we are able to invest more into design, user experience, and technology that will hopefully delight. I can’t wait to see all your reactions. 😁
Staying Close to Our Community
In the coming weeks I’ll be doing a live AMA with the community team. We’ll be choosing some questions from the comments below this post. @Rob ⚡️ will update you here when the live session is scheduled - I look forward to chatting!
