Just a few hours after the launch, over 100,000 units of the new Nothing Phone 2a have already been sold. This is a sign that the London-based smartphone designer has established a firm position in the market.

The device, which retails for £319, was launched yesterday as a cheaper alternative to the higher-end Nothing Phone 2 and aims to lure customers looking for lower prices away from mid-market rivals and dominant industry players such as Samsung.

Sales of the phone, the company’s third since launching its first device in 2022, have significantly outpaced those of its predecessors, a sign that the company continues to gain market share while big-tech devices like Apple’s iPhone show signs of declining sales.

Carl Pei, CEO and co-founder of Nothing, said: “Phone (2a) redefines an often overlooked category and brings Nothing’s unique innovations to millions of new users around the world.

“The record-breaking sale of 100,000 units in just 24 hours is proof of this. A big thank you to our community, partners and our team for their trust in us!”

The 2a features Nothing’s signature see-through design with a 6.7-inch OLED screen and dual 50-megapixel rear cameras. Battery life is respectable, lasting up to 52 hours between charges. Nothing claims the battery will retain at least 90% of its original capacity over at least 1,000 full charge cycles.

Investors have poured over £100 million into Nothing since its launch in 2020. The company has produced the first UK-designed smartphone since 2016. Prominent backers include Google Ventures, iPod inventor Tony Fadell and Twitch co-founder Kevin Lin.

The last British company to launch a smartphone was London-based Wileyfox, whose 2015 “Swift” device, manufactured under license in China, was marketed as a high-quality phone that was significantly cheaper than Apple and Samsung. Wileyfox Europe went bankrupt in 2018 without ever making a profit. In its last full financial year, the company had revenue of £14.5 million, representing sales of 130,000 smartphones. The company’s failure was “partly blamed on the collapse of corporate banks in Russia,” according to a document filed with Companies House. Pei, who previously co-founded smartphone company OnePlus, said he wanted to “inspire people” and “bring back optimism about the future and technology” with Nothing.

He criticized the competition for their “unimaginative, boring design.”