Carl Pei

Carl Pei Yu (裴宇) is a Chinese-Swedish entrepreneur born in Beijing in 1989. His family moved first to the United States and then to Sweden, where he grew up in Stockholm. Though he enrolled at the Stockholm School of Economics to study business, he dropped out in 2011 to pursue a career in the fast-moving Chinese consumer electronics industry — a decision that would define the next decade of his life.

Pei began his tech career at Nokia before being noticed by Meizu, the Chinese smartphone brand, after he built a fan forum for their international community. He later joined OPPO as international markets manager, where he worked alongside Pete Lau. In December 2013, the two co-founded OnePlus in Shenzhen, Guangdong. Under Pei’s leadership as Director of Global, OnePlus grew into one of the most respected smartphone brands worldwide, known for its “flagship killer” philosophy, direct community engagement, and the iconic “Never Settle” tagline. OnePlus sold close to a million units in its first year and expanded to dozens of countries. Pei was named to Forbes’ 30 Under 30 Asia list in 2016.

In October 2020, Pei left OnePlus to start fresh. In January 2021, he founded Nothing Technology in London, with a mission to remove barriers between people and technology. Nothing’s transparent-design aesthetic and community-first approach quickly built a loyal following: its first product, the Ear (1) earbuds, launched in July 2021 to critical acclaim, followed by the Nothing Phone (1) in July 2022. By 2024, Nothing had surpassed $1 billion in lifetime revenue, recording 150% year-on-year growth, while also spinning off its budget sub-brand CMF as a standalone subsidiary in India.

In September 2025, Nothing raised $200 million in a Series C led by Tiger Global at a $1.3 billion valuation — granting the company official unicorn status. The round included Qualcomm Ventures and existing investors GV, EQT, and Highland Europe. Pei has positioned Nothing’s next phase around building an AI-native operating system and devices, targeting a platform that is hyper-personalised and capable of executing intelligent tasks across smartphones, smart glasses, and beyond. Nothing has now raised over $450 million in total, and Pei has stated a target to be IPO-ready within three years.