Sunday, June 23, 2024
HomecompaniesTata to be first Indian iPhone maker after $125 million Wistron buy

Tata to be first Indian iPhone maker after $125 million Wistron buy

Bengaluru: Tata Group will commence production of Apple iPhone in India for both domestic and global markets, Union Minister of State for Electronics & Technology Rajeev Chandrasekhar said on social networking platform X, on Friday.

This makes Tata India’s first homegrown iPhone maker after it completed the acquisition of Wistron Corp’s Bengaluru plant for $125 million.

The airline-to-software conglomerate has been in talks with the Taiwanese iPhone maker for more than a year to take over its Bengaluru plant and was looking to complete the acquisition in 2023,DHhad earlier reported.

A statement by Wistron on Friday confirmed board approval for the sale of its India unit to Tata Electronics Pvt Ltd which will own a 100 per cent stake in Wistron InfoComm Manufacturing (India) Pvt Ltd. The companies will seek regulatory approvals after the deal is confirmed by both parties, it added.

Tata Group refused to comment on the announcement and said it is still working out the timeline for manufacturing iPhones with the client.

(Published 27 October 2023, 11:16 IST)

RELATED ARTICLES
- Advertisment -

Most Popular