Tata To Make iPhones From India For Domestic And Global Markets
Within two and half years Tata Group will make iPhones from India for domestic and global markets. The development comes after a purchase agreement has been approved between Tata Electronics Private Limited (TEPL) and Wistron InfoComm Manufacturing (India) Private Limited (WMMI) for the sale of its 100% indirect stake by Wistron Corporation, an electronics manufacturer based in Taiwan. According to a statement, the transaction price is tentatively estimated as USD125 million.
“Now within just two and a half years, Tata Group will now start making iPhones from India for domestic and global markets from India. Congratulations to the Tata team for taking over Wistron operations,” Minister of Electronics and Information Technology Rajeev Chandrasekhar announced on X (formerly Twitter).
The minister has also thanked Wistron and Apple regarding the development.
“Thank you Wistron for your contributions, and great going for Apple in building a global supply chain from India with Indian companies at its helm,” the minister wrote on X.
He also said the ministry stands fully in support in growth of Global Indian Electronics companies that will in turn support global Electronic brands that want to make India their trusted manufacturing and talent partner and to realize Prime Minister Narendra Modi’s goal of making India a global electronics power.
Wistron Corporation held a Board of Directors meeting today and granted approval for its subsidiaries, SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited, to sign the share purchase agreement.
“Upon confirmation and signature of the relevant agreements by both parties, the deal will proceed to obtain the necessary approvals. Following the completion of the transaction, Wistron will make the required announcements and filings in accordance with applicable laws and regulations,” the Wistron statement said.
Once Tata Group starts manufacturing iPhones, a line of smartphones developed and marketed by Apple Inc, which are popular worldwide and have a significant impact on the mobile technology market, the India-based conglomerate will become India”s first homegrown iPhone maker.
Tata Group, officially known as Tata Sons, is one of India”s largest and most prominent multinational conglomerates, and a family-owned business group with a long and storied history dating back to the 19th century. Founded by Jamsetji Tata, the group has a diversified portfolio of companies involved in various industries, including steel, automobiles, information technology, telecommunications, hospitality, chemicals, and more. Some of its well-known companies include Tata Motors, Tata Consultancy Services (TCS), Tata Steel, Tata Power, Tata Chemicals, and Tata Communications, among others.
