Tata finalized a deal with Wistron for $125 million, acquiring 100% of their stakes. Now, Tata stands as the sole manufacturer of iPhones in India.
The Tata Group is one of India’s leading multinational company. They will soon begin assembling iPhones in India. This move comes as they deal with Westron and got the manufacturing unit near Bengaluru which made Tata the only one in India iPhone manufacturer company.
For those who don’t know Apple has been manufacturing iPhones in India through Foxconn since 2017. They expanded their production with two more partners named Pegatron and Wistron. But as Wistron decided to step back from the iPhone assembly line in India, Tata Electronics Private Limited (TEPL) saw an opportunity. They signed a deal and bought Wistron’s 100% stake for an estimated $125 million.
Mr. Rajeev Chandrasekhar is India’s Union Minister of State for Entrepreneurship, Skill Development, Electronics & Technology. He confirmed this great news for India on his Twitter: the Tata Group will manufacture iPhones for both domestic and international markets. Prime Minister Narendra Modi is also focusing on the “Make in India” initiative. As Recently Narendra Modi also gave a grant of 100 5G Labs in India. The collaboration with Apple, a widely recognized brand, will surely encourage other big tech companies to establish manufacturing hubs in India. Tata had also previously provided their car manufacturing yard to Mercedes for production; now, Tata will collaborate with Apple.
In just a couple of years, India will see its first Indian made iPhone. To honor the agreement with Wistron, Tata has committed to various manufacturing and hiring milestones, including shipping iPhones worth $1.8 billion from the Bengaluru factory by March 2024. The facility, which currently has over 10,000 employees making the iPhone 14, will see its workforce triple by next year.
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