New Delhi, Oct 16 (IANS): London-based consumer technology brand Nothing is reportedly planning to launch its own phone as early as 2022 following the success of its ear (1) earbuds.

In addition to a new phone, Nothing is also developing its own power bank called the Nothing Power (1). The power bank is expected to launch before the end of the year, reports Android Central.

The report doesn't include any details about the key specs or features of the phone, it is likely to be powered by a Qualcomm Snapdragon chipset.

The firm earlier this week announced that it has raised $50 million from strategic and private investors, and collaborated with chip-maker Qualcomm to power its upcoming products.

The startup said it will use the funds towards research and development in preparation for the brand's entry into new product categories as part of its ecosystem.

"We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing's next phase of growth," Carl Pei, Founder Nothing said.

Nothing is a privately-held company with backing from GV (formerly Google Ventures) and other private investors including Tony Fadell (Principal at Future Shape & inventor of the iPod), Casey Neistat (YouTube personality and Co-founder of Beme), Kevin Lin (Co-founder of Twitch) and Steve Huffman (Co-founder and CEO of Reddit).