Tata Group is poised to become the inaugural Indian producer of iPhones, catering to both the domestic and global markets, as it secures the purchase of a plant located in the southern region of India from Wistron Corp. The acquisition of Wistron InfoComm Manufacturing (India) Private Ltd. by Tata comes at a price of $125 million, a development endorsed by Wistron’s board, as disclosed in a statement by the Taiwanese electronics manufacturer.
The statement also highlighted that the deal is contingent on the confirmation and signing of relevant agreements by both parties. It will then proceed to secure the requisite approvals. Subsequent to the transaction’s completion, Wistron will adhere to the necessary announcements and filings as dictated by applicable regulations.
Union Minister Rajeev Chandrashekhar extended his congratulations to the Tata team for taking over Wistron operations. In a social media post, he expressed gratitude to Wistron for its contributions and commended Apple for establishing a global supply chain from India, with Indian companies at the forefront.
Chandrashekhar praised Prime Minister Narendra Modi’s production-linked incentive (PLI) scheme, emphasizing how it has propelled India into becoming a trusted and major hub for smartphone manufacturing and exports. He further added that Tata Companies will now embark on iPhone production for domestic and global markets, effectively commencing this venture within just two and a half years.
Currently, Apple’s iPhones are primarily assembled by Taiwanese manufacturing giants, such as Pegatron Corp. and Foxconn Technology Group. In India, Wistron joins Foxconn and Pegatron as one of the three Taiwanese iPhone manufacturers. To bolster its collaboration with Apple, Tata has initiated a hiring initiative for its factory located near Bengaluru in Hosur, where it manufactures iPhone components. Situated on expansive land covering several hundred acres, this facility provides Tata with the potential to introduce additional iPhone manufacturing lines in the forthcoming years. Additionally, Tata has announced plans to establish 100 Apple stores within the country, which boasts a population of 1.4 billion.
Exciting news! Storify News is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest news! Click here!
Disclaimer: (This story, title and image has not been edited by StorifyNews staff and is published content from other source.)
