Tata Group to Be India's First Home grown iPhone Manufacturer with Wistron
Tata Group to Manufacture India's First Home-grown iPhone After Wistron Plant Purchase Near Bengaluru, Enhancing Hiring and Expanding Apple Store Presence
sociapanews Staff
In a significant development, the Tata Group is poised to manufacture India's first homegrown iPhone following Wistron Corp's approval for the sale of an assembly plant near Bengaluru. Union Minister Rajeev Chandrasekhar announced that production is expected to commence within two and a half years. This strategic move comes after prolonged negotiations between the Indian conglomerate and the Taiwanese iPhone manufacturer regarding the plant's acquisition.
The approval and announcement have garnered praise from various quarters. Union Minister Rajeev Chandrasekhar conveyed his congratulations to the Tata team for taking over Wistron's operations, highlighting the importance of Indian companies participating in Apple's global supply chain. This step marks a significant leap in India's presence in the smartphone manufacturing landscape.
The sale, officially confirmed by the company, entails Tata's acquisition of Wistron InfoComm Manufacturing (India) Private Ltd. at a price of $125 million. Regulatory approvals will be sought following confirmation by both parties. It's worth noting that earlier reports, citing anonymous sources, estimated the Tata-Wistron deal at a value exceeding $600 million.
As part of the agreement, Tata is set to uphold various manufacturing and hiring commitments made by Wistron. This includes the shipment of iPhones worth at least $1.8 billion from the factory in the fiscal year through March 2024, securing state-backed financial incentives. Furthermore, Tata plans to significantly expand its workforce at the plant by the next year. Currently, the facility employs over 10,000 workers engaged in the assembly of the latest iPhone 14 model.
These developments coincided with Prime Minister Narendra Modi's emphasis on India's technological advancements during the India Mobile Congress. With Google, Samsung, and now Apple participating in mobile phone manufacturing in India, the country takes pride in becoming a hub for "Made in India" mobile phones on the global stage.
