Wistron corp. has decided to sell a plant in the Southern part of the country to Tata.
Updated On – 05:40 PM, Fri – 27 October 23
Hyderabad: On Friday, Rajeev Chandrasekhar, India’s Minister of Electronics and Information Technology, announced that Tata Group is poised to start producing Apple iPhones in India, targeting both domestic and global markets in just two and a half years.
Wistron corp. has decided to sell a plant in the Southern part of the country to Tata. In a statement, Taiwanese electronics manufacturer Wistron said the transaction price is tentatively estimated at USD 125 million. “Wistron Corp held a Board of Directors meeting today and granted approval for its subsidiaries, SMS InfoComm (Singapore) Pte Ltd and Wistron Hong Kong Ltd to sign the Share Purchase Agreement with Tata Electronics Pvt Ltd (TEPL) for the sale of its 100 per cent indirect stake in Wistron InfoComm Manufacturing (India) Pvt Ltd (WMMI),” Wistron announced in the statement.
As per reports, the plant of Wistron is located near Bengaluru.
“PM @narendramodi Ji’s visionary PLI scheme has already propelled India into becoming a trusted & major hub for smartphone manufacturing and exports. Now within just two and a half years,
@TataCompanies will now start making iPhones from India for domestic and global markets from India. Congratulations to the Tata team for taking over Wistron operations. 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,” Rajeev Chandrasekhar tweeted.
“@GoI_MeitY 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 & talent partner and to realize PMs goal of making India a global electronics power,” the Minister added.
Apple iPhones are primarily assembled by major Taiwanese manufacturers like Pegatron Corp. and Foxconn Technology Group. In India, three Taiwanese companies, including Wistron, alongside Foxconn and Pegatron, are involved in iPhone production.
