Exciting news! The Tata Group Manufactures iPhones in India and Tata has just bought a Wistron plant near Bengaluru,
They’re gearing up to produce India’s very own iPhone. They’re also hiring more people at their factory in Hosur, where they make parts for iPhones. Plus, they’re planning to open 100 Apple stores all over the country.
When Tata Group Manufactures iPhones in India?
The Tata Group Manufactures iPhones in India as Wistron Corp has given the green light for the sale of an assembly plant near Bengaluru. Union Minister Rajeev Chandrasekhar has announced that manufacturing will commence within the next two and a half years. The diverse conglomerate, known for its ventures in airlines and software, has been in discussions with the Taiwanese iPhone manufacturer for over a year to acquire this plant.
“In just two and a half years, Tata Companies will begin manufacturing iPhones in India for both domestic and global markets. Kudos to the Tata team for taking over Wistron’s operations. We also appreciate Wistron for their contributions, and it’s a significant step for Apple in building a global supply chain from India with Indian companies leading the way,” the minister tweeted.
A statement released by the company on Friday confirmed that the board has approved the sale of Wistron InfoComm Manufacturing (India) Private Ltd. to Tata for $125 million. Once the deal is endorsed by both parties, they will then seek regulatory approvals.
Earlier reports, based on information from undisclosed sources, had estimated the value of the Tata-Wistron deal at over $600 million.
As per a Bloomberg report from July this year, Tata is committed to upholding various manufacturing and hiring obligations outlined in their agreement with Wistron. This commitment includes shipping iPhones valued at a minimum of $1.8 billion from the factory during the fiscal year until March 2024 to secure government-supported financial incentives. Wistron had also expressed intentions to triple its workforce at the plant by the following year. Currently, the facility employs over 10,000 workers responsible for assembling the latest iPhone 14 model.
Also Read This: 6 Intel Evo Laptops to buy on Amazon and Flipkart, Unbeatable