Highlights
- Tata Group closes to acquire the Wistron factory India operations.
- Wistron has a factory in Karnataka where they manufacture the iPhones.
- Wistron exported a worth $500 million iPhone from India in Past three months.
Recently there are rumors that Tata Group closes to acquire the Wistron factory, to become the first Indian company to manufacture the iPhones. According to reports by Bloomberg, Tata Group will take over the Wistron’s operations in India, Tata Group is now in the final stages of discussions to sign a deal to acquire the Wistron’s factory in Karnataka.
Wistron reportedly exiting its business in India for several reasons and the deal between the Tata Group and Wistron’s supply chain could be Finalized by August.
In Wistron’s Karnataka factory there are more than 10,000 workers who assemble the devices that are manufactured in the factory i.e iPhone 14. The Wistron factory valued more than $600 million and both companies reportedly have been negotiating the takeover for a year and now finally the deal to acquire it will soon come to an end.
According to reports, Wistron has targeted to ship iPhone worth at least 1.8 billion from the Wistron’s India factory in fiscal year through March 202 to win state – backed financial incentives and the Wistron’s also targeted to tripling the plant workforce by next year.
Tata Group is ready to achieve these goals which is setted by Wistron as the Wistron exits the iPhone business in India and the Tata Group will be First Indian company to manufacture the iPhones. With Indian Government Production – Linked Incentive (PIL) scheme boots local manufacturing and exports. Wistron exported nearly worth $500 millions iPhones from India in the past three months i.e ended on June 30th.
Apple is also working to reduce the dependability from China, Due to the Pandemic and Apple face many supply issues. Because at that time Apple exported a very big chunk of iPhones and other Apple products from China and now Apple is working to expand its manufacturing in other countries especially in India.
Now from recent years, Apple is getting very high demand for iPhones in India and gradually India becomes the One of the largest markets for Apple. That’s why Apple recently opened its official stores in India.
