Nothing is reportedly working on its first smartwatch, could launch in September

Nothing is reportedly working on its first smartwatch under its primary brand, according to tipster Yogesh Brar. According to the leak, the company plans to launch the new wearable in September. The watch is expected to feature Nothing's distinct transparent design language and will reportedly be available in limited markets at launch.

The new smartwatch is said to be priced below $300. If this holds, the new watch could be a premium alternative to the likes of the OnePlus Watch 4. Nothing has yet to release a smartwatch under the main Nothing brand, though it does have budget wearables in the form of the Watch 3 Pro under its CMF sub-brand.

Certain hardware and software aspects are not yet confirmed at this time. It’s not clear yet if the new Nothing smartwatch will run Google’s Wear OS or a custom OS like the software on its current CMF devices.

The limited availability may be directly tied to recent reports indicating that Nothing's smartphone business is facing significant headwinds. According to an exclusive report from Digit, Nothing is preparing to exit at least 12 markets globally, including Japan, the Middle East, and parts of Europe, following disappointing sales outside of India. The company is also reportedly planning substantial layoffs that could shrink its global workforce by around 40 percent, with research and development taking a significant hit.