Tata Group will start making iPhones in India for the local and global markets, India’s Deputy IT Minister Rajeev Chandrasekhar announced on Friday, moments after Wistron’s board approved the sale of the Taiwanese firm’s plant in the southern part of India to the tech-to-airline conglomerate.
Wistron’s board has approved the sale of Wistron InfoComm Manufacturing (India) Pvt to Tata for $125 million, the Taiwanese firm said in a stock exchange filing. Wistron said it finalized the deal after strategic considerations in response to the reshaping of the firm’s global manufacturing strategy.
The deal follows the two firms negotiating terms for over a year. Tata declined to comment. The 155-year-old Tata Group is in multiple businesses from selling salt to steel to tech consultancy services. Tata Group, which has forged joint ventures with many global firms including Starbucks, said earlier that it will launch 100 Apple stores in the country.
“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,” wrote Chandrasekhar on social platform X.
“The Ministry of Electronics and IT 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 PM’s goal of making India a global electronics power.”
Wistron is one of the key iPhone manufacturers in India and it began assembling the Apple handsets in the country five years ago.
More to follow.