Nothing's smartphone sub-brand CMF has confirmed that it is shelving the budget "CMF Phone 3 Pro" that had been planned for release within 2026. The reason is the worldwide spike in the price of memory components, led by DRAM. A company co-founder explained that it has become difficult to deliver a meaningful upgrade while keeping prices low. The move highlights how budget phones, which built their appeal on affordability, are now running headlong into soaring component costs.

No CMF Phone 3 Pro in 2026

CMF has officially acknowledged that it will not launch the "CMF Phone 3 Pro" this year. The device would have been the successor to the "CMF Phone 2 Pro," which arrived about 14 months ago, and it had been expected to debut around the third quarter of 2026.

The confirmation came from Nothing co-founder Akis Evangelidis. According to him, CMF did actually explore a successor, but ultimately decided to hold off on releasing it. Behind that decision is the rapid rise in component costs seen in recent months.

The Cause: A Global Surge in Memory Prices

The biggest factor in halting development was the spike in the price of memory components such as DRAM and storage. CMF has made low pricing its weapon, but it found it difficult to keep that approach while still packing in improvements worth upgrading for.

The impact on pricing shows up in concrete numbers. The CMF Phone 2 Pro launched with an 8GB/128GB model at 18,999 rupees (about 32,000 yen), and in the US an 8GB/256GB model sold for 279 USD (about 45,000 yen). Yet rebuilding the same configuration at today's component prices would push the expected India price up to 30,000–35,000 rupees (about 50,000–60,000 yen).

Memory's footprint has grown, too. Whereas memory once accounted for roughly 10–15% of a smartphone's bill of materials (BoM), that figure is now said to top 50%. Evangelidis said that under these conditions, the company "can't build a phone that feels like a genuine step forward." *Converted at 1 USD = 161 JPY and 1 INR = 1.7 JPY (as of June 2026).

A Direct Hit to a Brand Built on Affordability

CMF is a value-oriented sub-brand launched by Nothing. Precisely because it raised its profile with pared-back specs and aggressive pricing, being unable to hold the line on price strikes at the brand's core. Faced with a choice between raising the price or skipping the launch altogether, CMF chose the latter this time.

This issue is not CMF's alone. Rising memory prices are spreading across the entire industry, and thin-margin budget smartphones are the most exposed. It is one example of how devices that compete on price are being buffeted by a global wave of component costs.

What Comes Next

While the new smartphone model is on hold, CMF still intends to launch several new products within 2026. It says these will include products in entirely new categories, so the brand is not standing still.

At the same time, CMF has not given a specific timing for its next smartphone. It says it will share more once conditions are in place to deliver a real upgrade without sacrificing affordability — which can be read as a strategic decision to wait in order to protect its value proposition.

Summary

Citing surging memory prices, Nothing's CMF has canceled the 2026 release of the "CMF Phone 3 Pro." The backdrop is memory rising to more than half of a device's bill of materials, making it hard to deliver a meaningful upgrade while keeping prices low. CMF will continue rolling out products, including new categories, but has not specified when its next smartphone will arrive. The episode has come to symbolize how price-driven devices are confronting a global spike in component costs.