In response to a report that Nothing is planning to “exit 12 markets as global shipments decline,” Nothing cofounder Akis Evangelidis said the company is “reorganizing” and laying off some of its staff, but that “the reported numbers are way overblown.” Evangelidis disputed a claim about underwhelming sales for Nothing’s Phone 4B, saying it “sold 29,537 units on Day 1 only, breaking records in its price segment.”

He also said Nothing isn’t shutting down in any markets, and is instead “consolidating” its operations into regional hubs as well as introducing an “AI-native” business unit.

The update comes as rising component prices squeeze the …

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