Tata Group, in a historic moment taking forward Make
In India campaign, is set to become the first homegrown iPhone maker in Bharat for
domestic and global markets after Wistron Corp agreed to sell a plant in the
southern part of the country to the conglomerate.
Wistron’s board approved the sale of Wistron InfoComm
Manufacturing (India) Private Ltd to Tata for $125 million, the Taiwanese
electronics manufacturer said on Friday.
The deal will move forward upon confirmation and
signature of the relevant agreements by both parties, to obtain the required approvals.
Following the completion of the transaction, Wistron will make the required
announcements and filings in accordance with applicable regulations.
Congratulating the Tata team for taking over Wistron
operations, Union Minister Rajeev Chandrashekhar expressed, “Thank you @Wistron
for your contributions, and great going for Apple in building a global supply
chain from Bharat with Indian companies at its helm.”
Hailing Prime Minister Narendra Modi for production
linked incentive (PLI) scheme, Chandrashekhar stated it has already “propelled Bharat
into becoming a trusted and major hub for smartphone manufacturing and exports.”
“Now within just two and a half years, Tata Companies
will now start making iPhones from Bharat for domestic and global markets from
India,” he added.
Apple’s iPhones are mainly assembled by Taiwanese
manufacturing giants like Pegatron Corp and Foxconn Technology Group. Wistron
is one of three Taiwanese iPhone manufacturers in Bharat, along with Foxconn
and Pegatron.
Tata has taken other steps to expand its business with
Apple, including a hiring spree for its factory in Hosur, near Bengaluru, where
it produces iPhone components.
That plant stands on multiple 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 of 1.4
billion.
NE Watch Desk With Agency Inputs
