Nothing confirms layoffs, but calls exit rumors “fake news.”

In response to a report Nothing plans to “exit 12 markets as global shipments decline,” Nothing co-founder Akis Evangelidis said. He said The company is “reorganizing” and laying off some of its employees, but “the reported numbers are grossly inflated.” Evangelides disputed the claim about Nothing’s Phone 4B’s disappointing sales, saying it “sold 29,537 units on the first day alone, breaking records in the price segment.”

He also said that nothing will be closed in any markets, instead “consolidating” its operations into regional centers as well as introducing an “AI-driven” business unit.

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