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Nothing, the new startup by OnePlus co-founder Carl Pei, has reportedly acquired the one-time (and now defunct) smartphone brand Essential. Pei’s Nothing has remained notably tight-lipped on how the new company plans to make its mark in the technology market. Earlier this month, Nothing was reportedly looking at launching true wireless stereo (TWS) earbuds this year. Now, the latest acquisition hints that Nothing could be looking at coming up with its own smartphone lineup as well. However, this should be taken with a pinch of salt as Nothing has officially announced nothing on its product launch plans yet.