Nothing confirms layoffs, but calls market exit rumors ‘fake news'

Nothing says it is not exiting any markets, but is restructuring its operations and cutting some jobs.

The company is consolidating countries into regional hubs and creating a new AI-focused unit.

It called the reported layoff figures exaggerated, while signaling that cost pressure and component shortages are affecting the business.

Nothing also disputed claims that Phone 4B sales were weak, citing first-day unit sales as evidence.