Tata Electronics Private Limited will soon start manufacturing iPhones in India for the domestic and global markets. On Friday, October 27, Apple's iPhone assembly partner Wistron Corporation announced that its subsidiaries, SMS InfoComm (Singapore) Private Limited and Wistron Hong Kong Limited will sign a share purchase agreement with Tata Electronics for a 100% indirect stake in Wistron InfoComm Manufacturing (India) Private Limited (WMMI) for an estimated $125 million.
What this means is that, once the deal is signed clears regulatory hurdles, Tata Electronics will start manufacturing iPhones in India at Wistron's Karnataka plant. According to Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar, this could happen in less than two-and-a-half years.
PM @narendramodi Ji's visionary PLI scheme has already propelled India into becoming a trusted & major hub for smartphone manufacturing and exports.
Now within just two and a half years, @TataCompanies will now start making iPhones from India for domestic and global markets from… pic.twitter.com/kLryhY7pvL— Rajeev Chandrasekhar 🇮🇳 (@Rajeev_GoI) October 27, 2023
In a tweet, the minister lauded this move and called it a realisation of Prime Minister Narendra Modi's vision to propel "India into becoming a trusted and major hub for smartphone manufacturing and exports".
The Hindu Businessline had reported that the Taiwanese electronics company will be exiting India once the deal with Tata Electronics is finalised. The company, which employs 12,000 people at the iPhone facility, could seek dissolution of its India operations within the next year.
As per Bloomberg, Tata has been in talks for more than a year to take over the Bengaluru plant as it seeks to forge closer ties with Apple. As per the same report, Tata has taken other steps to increase its business with Apple. It has accelerated hiring in its factory in Hosur, near Bengaluru, where it produces iPhone components. That plant stands on several hundred acres of land where Tata could add iPhone manufacturing lines in the coming years. Tata has also announced that it will launch 100 Apple stores in the country.
— With inputs
First Published: Oct 27, 2023 4:46 PM IST
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