Nothing phone (1) launch this summer; set to come with Snapdragon chip - Here's all you need to know

London-based consumer tech company Nothing has officially confirmed the launch its first smartphone -- Nothing phone (1) globally. The smartphone will be powered by Qualcomm's Snapdragon mobile platform.

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It will be the company's first smartphone and a second device in the overall product ecosystem of the brand. The company said it is planning to launch the smartphone, which will run Nothing OS, in the coming months.

Nothing OS captures the best features of pure Android. It is designed to deliver a fast, smooth and personal experience. A coherent interface, the hardware seamlessly integrates with software through bespoke fonts, colours, graphical elements and sounds.

The first preview of Nothing OS will be available via its launcher that will be available to download on select smartphone models from April.

The company also announced a $10 million allocation for an upcoming equity-based community investment round at the same valuation as its Series B fundraise co-led by EQT Ventures and C Ventures.

"Having raised $144 million, built a team of over 300 people and secured support from trusted partners like Qualcomm Technologies, Inc, we are ready for the phone (1) to mark the start of change for the sleepy smartphone market," said Carl Pei, Nothing CEO and Co-founder.

"We are also doing a new $10m round of community investment so that our supporters get the chance to be part of our journey going head to head against the giants of the industry," Pei added.