Nothing Technologies has been working on a smartphone for over a year and plans to announce it by next month. It is a newly-launched venture of OnePlus co-founder Carl Pei.

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"According to TechCrunch, the entrepreneur has shown off a prototype of the device in meetings with several key executives from the industry at this week's Mobile World Congress (MWC) event in Barcelona, as per a source close to the company," the IANS reported.

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TechCrunch has viewed a photo of one such meeting Pei had with Qualcomma's chief executive. Details around the forthcoming device are thin, though the source notes that the product will share a similar design language and "elements of transparency" seen in Nothing's first product.

Released in 2021, the earbuds have shipped 400,000 units as of late January, according to the London-based hardware startup. In an interview with TechCrunch last July, Pei noted that the company had several different devices on its roadmap, prior to teasing out the earbuds.

"We have a lot of products in the pipeline. Earlier this year, we did a community crowdfunding round where we allocated $1.5 million to our community," Pei was quoted as saying by the website.

Earlier in January, Carl Pei appointed Adam Bates as Design Director of the brand. Bates spent over 14 years at Dyson as a design lead, building the team that defined the design and user experience of its product portfolio.

"I am looking forward to working with the Nothing team and founding partners Teenage Engineering, whom I have long admired, to achieve its vision of bringing people and technology closer together," Bates, the newly appointed Design Director of Nothing, said in a statement.

"My mission at this early stage is to build a team and develop a design culture so we can create iconic products that will change the consumer tech landscape," he added.