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Tata set to make iPhones in India
Hindustan Times
|October 28, 2023
Tata Electronics will start making iPhones from India within 2.5 years for domestic and global markets
Tata Electronics will become the first Indian company to make the Apple's iPhones in the country, minister of state for electronics and IT Rajeev Chandrasekhar said citing a statement from Taiwan-based Wistron, whose board on Friday approved a stake sale to the Tata group.
Tata Electronics will pay $125 million for the 100% indirect share in Wistron InfoComm Manufacturing (India) Private Limited, which has a facility in Kolar, near Bengaluru, where the Apple phones were being manufactured.
"Now within just two and a half years, Tata Electronics will start making iPhones from India for domestic and global markets. 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," Chandrasekhar said in a post on X (formerly Twitter).
In a statement, the Taiwanese electronics manufacturer said: "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)."
Denne historien er fra October 28, 2023-utgaven av Hindustan Times.
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