Explorer

Tata Group Set To Finalise Deal To Acquire Wistron Factory, Become First Indian iPhone Maker: Report

Earlier, it was reported that the Taiwanese electronics company Wistron is preparing to wind down its operations in India after a successful business stint spanning over fifteen years.

Tata Group is close to signing an agreement with key Apple supplier Wistron to acquire its factory in Karnataka, marking the first Indian company to enter into iPhone assembly space, reported Bloomberg, citing people familiar with the matter. The potential deal could materialise as soon as August, as per the report. It was earlier reported that the Taiwanese electronics company is preparing to wind down its operations in India after a successful business stint spanning over fifteen years. 

According to the report, the negotiation for the takeover of the Wistron Corp. factory in Karnataka, valued at $600 million, has been going on for over a year. The facility employs more than 10,000 workers and assembles the latest iPhone 14 model.

Wistron, as per the report, committed to ship at least $1.8 billion worth of iPhones from the factory in the fiscal year 2023-24 to secure state-backed financial incentives. It also had plans to triple the plant’s workforce by next year. India's largest conglomerate, Tata is set to honour those commitments. 

Also read: OnePlus Pad Review: A Spellbinding First Attempt

Earlier this year, it was reported that Wistron exported nearly $500 million worth of iPhones from India in the three months ended June 30. Apple’s other key Taiwanese suppliers, Foxconn Technology Group and Pegatron Corp., have also ramped up production in India. According to the report, the introduction of an Indian-made iPhone is expected to provide a significant push to Apple's endeavors of diversifying its product manufacturing beyond China and strengthening its technology manufacturing presence in India. 

The government is also pushing to attract more players in domestic manufacturing with attractive financial incentives to promote production and generate employment opportunities. 

Also read: Nothing's First Exclusive Service Centre In Bengaluru Opened Ahead Of Phone (2) Launch: Report

The Tata Group, with a rich history of 155 years and a diverse portfolio ranging from salt to tech services, has recently ventured into electronics production and e-commerce, the report noted. Adding that Tata group already makes the iPhone chassis, or the metal backbone of the device, at its factory, spread over hundreds of acres of land in Tamil Nadu state. 

Subscribe And Follow ABP Live On Telegram: https://t.me/officialabplive

View More
Advertisement
IOI
Don't Miss Out
64
Hours
10
Minutes
33
Seconds
Advertisement
Tue Feb 18, 5:19 pm
connaught place
16.5°
Precipitation: 0 mm    Humidity: 70%   Wind: W 3.8 km/h
See Today's Weather
Powered By:
Accu Weather
Advertisement

Top Headlines

After Over Five Decades Of Diplomatic Ties, India and Qatar Become Strategic Partners
After Over Five Decades Of Diplomatic Ties, India and Qatar Become Strategic Partners
KIIT University Row: 3 Directors, 2 Guards Arrested Over Suicide Of Nepalese Student, Protest Continues
KIIT University Row: 3 Directors, 2 Guards Arrested Over Suicide Of Nepalese Student, Protest Continues
'Not Like MVA Or INDI Alliance': Shinde Rejects Reports Of 'Rift In Mahayuti' In Maharashtra
'Not Like MVA Or INDI Alliance': Shinde Rejects Reports Of 'Rift In Mahayuti' In Maharashtra
'This Is Mrityu Kumbh': Mamata Attacks Yogi Govt Over 'Mismanagement' At Maha Kumbh
'This Is Mrityu Kumbh': Mamata Attacks Yogi Govt Over 'Mismanagement' At Maha Kumbh
Advertisement
ABP Premium

Videos

India's Got Latent Row: Samay Raina, Apoorva Mukhija to Appear Before NCWNew Delhi Stampede: Railway Takes Major Step After Stampede at StationDelhi Breaking: Railway Takes Action After Stampede, Platform Ticket Sales Halted at New Delhi StationPrayagraj Breaking: Rising Crowd Forces Railway to Shut Sangam Station Until Further Notice

Photo Gallery

Embed widget

We use cookies to improve your experience, analyze traffic, and personalize content. By clicking "Allow All Cookies", you agree to our use of cookies.