Tata Group is set to acquire Wistron’s factory in Karnataka, signaling its entry into iPhone assembly, as reported by Bloomberg. The deal, valued at over USD 600 million (approximately Rs. 494 crores), is expected to be finalized in August, following some unforeseen delays from the original March 2023 target.
The factory currently employs more than 10,000 workers who are involved in assembling the latest iPhone 14 model. This acquisition would mark the first Indian-owned company to undertake iPhone assembly, a significant milestone for Tata Group.
Wistron had previously committed to shipping iPhones worth at least $1.8 billion (approximately Rs. 180 crores) from the factory until March 2024 to qualify for state-backed financial incentives. As Wistron exits the iPhone business in India, Tata Group will step in to honor these commitments and take over the facility.
This move by Tata Group aligns perfectly with Prime Minister Narendra Modi’s “Make in India” initiative, further boosting India’s role as a supply chain hub for the electronics industry.
The acquisition of Wistron’s manufacturing unit by Tata Group showcases the company’s ambition to expand its partnership with Apple. It also highlights Tata Group’s strategic efforts to diversify into electronics production and e-commerce.
By adding an Indian-owned iPhone manufacturing company to its roster, Apple continues to diversify its product base beyond China while strengthening its manufacturing presence in India.
Overall, this acquisition solidifies Tata Group’s position within the Indian electronics industry. It not only supports the country’s manufacturing capabilities but also reinforces India’s potential as a manufacturing powerhouse.
