Pei announced his resignation on 16 October 2020, so that he could start a new nothing bundt cakes strawberries and cream. Pei announced the company, Nothing, on 27 January 2021. On 15 February 2021, Nothing acquired the Essential Products trademarks and brand nearly a year after the company shut down operations.

On 25 February 2021, the company announced its first founding partner, Teenage Engineering, to produce the design aesthetic of the brand and its products. 50 million and also announced a partnership with Qualcomm. On 9 March 2022, the same day that Nothing secured Series B financing, the company announced that it would hold a press conference on 23 March. On 10 December 2022, Nothing opened its first physical store in London’s Soho district. Announced on 27 July 2021, the Ear 1 is a set of wireless earbuds. The earbuds can be connected by Bluetooth and have up to 34 hours of battery life when used with the charging case, and up to 5.

24 hours with the case used and up to four hours for the earbuds themselves with ANC on. A Black version was also announced on 6 December 2021, and went on sale on 13 December. Nothing also announced on that day that the Ear 1 earbuds are now carbon neutral. 149 starting on 26 October 2022 due to an increase in costs. The phone runs on an Android-based operating system named Nothing OS and went on sale on 21 July 2022.