Tata Group is nearing an agreement to acquire Wistron’s iPhone manufacturing plant in India. The announcement of this deal is anticipated in August. If successful, Tata will become the first Indian company to assemble iPhones.
The Wistron plant, located in Narasapura, Karnataka, employs over 10,000 individuals and currently produces the iPhone 14 model. However, Tata group is expected to ramp up production and expand the plant’s capabilities.
This acquisition is a significant accomplishment for Tata, as it seeks to expand its electronics manufacturing business. It also reflects Apple’s increasing dedication to India. Apple has already invested billions of dollars in the country and is expected to make further investments in the future.
The acquisition of Wistron’s plant will have a substantial impact on the Indian smartphone market. It is likely to result in heightened competition and lower prices for consumers. Additionally, it has the potential to stimulate India’s manufacturing sector and generate employment opportunities.
Here are some additional details about the deal:
- The deal is reportedly worth around $600 million.
- Tata is expected to take over the plant in August.
- Tata will likely increase the plant’s employment to around 15,000 people.
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