Tata Group acquires Wistron! Becomes the first Indian manufacturer of iPhones.
Tata Group Makes History with Wistron Acquisition as First Indian Manufacturer of iPhones
【Mobile China News】According to foreign media reports, Tata Group has completed the acquisition of Wistron’s iPhone assembly division in India. Under the agreement, Tata Group will acquire 100% of the shares of Wistron Manufacturing Company and make a payment of $125 million for the production line, as well as provide a $550 million inter-company loan to Wistron India, the parent company.
The transaction includes a factory of 44 acres (approximately 180,000 square meters) near Bangalore, with 8 production lines. It is one of the assembly locations for iPhone 12 and iPhone 14 devices, and Tata is expected to play a significant role in the increasing iPhone production in this Asian country.
Apple has several partners in India who manufacture iPhones – Foxconn, Wistron, and Luxshare Precision – but they are all Chinese companies. Tata is the first Indian company responsible for iPhone production, and its CEO and managing director stated that this deal is a “significant milestone”.
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Tata Group is the largest conglomerate in India, with 29 companies under its umbrella, including Tata Motors, which has been producing electric vehicles since 2020. iPhone production will be handled by Tata Electronics, which has a factory in Hosur, Tamil Nadu, for manufacturing iPhone SE casings.
Previously, the Chairman of Tata Group met with Tim Cook to discuss the issue of manufacturing Apple products in India. Tata Group plans to invest 63 billion rupees in its factory located in Hosur, Tamil Nadu, and there is a possibility that Tata Group may establish 100 Apple-exclusive stores in India through Tata Croma.
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