NOTHING CONFIRMS LAYOFFS, DENIES MARKET EXIT

Evangelidis stated that Nothing is undergoing internal restructuring and laying off employees, but characterized the reported scope as "way overblown." The company denies plans to completely exit markets, countering earlier reports suggesting a strategic pullback amid declining global shipments. Regarding the Phone 4B's commercial performance, Evangelidis cited stronger-than-expected first-day sales of 29,537 units, claiming the figure "broke records in its price segment." This directly contradicts reports of underwhelming demand for the device. The comments come as Nothing faces increased pressure in the competitive smartphone market. The company, known for its transparent design aesthetics, has struggled to maintain momentum following its initial launch hype. Nothing did not provide specific details about the number of affected employees or which operations would be restructured as part of the reorganization.