Tata Group To Make iPhones In India After Buying Wistron's Manufacturing Unit
Designed by Apple and made in India by Tata Group, iPhones will soon make it to not just the domestic but also international markets.
The board of Taiwanese electronics manufacturer Wistron Corporation has approved the sale of Wistron InfoComm Manufacturing India Private Limited to Tata Electronics Private Limited for an estimated $125 million, paving the way for the conglomerate to assemble iPhones in India.
What Wistron said?
"Wistron Corp held a Board of Directors meeting today and granted approval for its subsidiaries, SMS InfoComm (Singapore) Pte Ltd and Wistron Hong Kong Ltd to sign the Share Purchase Agreement with Tata Electronics Pvt Ltd (TEPL) for the sale of its 100 per cent indirect stake in Wistron InfoComm Manufacturing (India) Pvt Ltd (WMMI)," Wistron announced in the statement.
Later, Minister of State for Information Technology Rajeev Chandrasekhar announced that the Tata group will start making iPhones from India for domestic and global markets.
How this will boost Make in India?
Chandrasekhar praised PM Modi's ground-breaking Production-Linked Incentive (PLI) scheme, which has already catapulted India into the echelons of trusted and major smartphone manufacturing and export hubs.
These 'Made in India' iPhones will cater to both domestic and global markets, elevating India's reputation as a significant player in the world of electronics manufacturing.
Chandrasekhar extended his congratulations to the Tata team for their monumental endeavour, which now includes taking over the operations of Wistron.
In addition, he expressed his appreciation to Wistron for their valuable contributions. The successful partnership between Apple and these Indian companies marks a crucial step in establishing a global supply chain originating from India.
Where will iPhones be assembled??
Wistron, which began operating in India in 2008, has a manufacturing plant with eight assembly lines in Kolar district's Narasapura.
Earlier this year, the company had announced its plans to exit India and sell their business.
When violence rocked Wistron plant
In December 2020, the Wistron plant had made global headlines after employees there went on a rampage over a wage dispute.
The violence left the plant and equipment damaged, and the company had stated that it suffered losses of over Rs 437.7 crores.
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