Indian Tech Giant to Produce Apple iPhones in Landmark Agreement
In a groundbreaking development, Tata Electronics, a major Indian technology conglomerate, is poised to make history as it becomes the first Indian company to manufacture Apple’s iconic iPhones within the country. This momentous announcement follows Tata Electronics’ acquisition of a 100% indirect share in Wistron InfoComm Manufacturing (India) Private Limited, a transaction valued at $125 million.
The state-of-the-art manufacturing facility is strategically situated in Kolar, near Bengaluru, and has served as a significant production hub for Apple iPhones. The approval for the stake sale to Tata Electronics was granted by the board of Wistron, a renowned Taiwanese electronics manufacturer. This milestone marks a significant achievement in India’s ongoing endeavour to establish itself as a global electronics manufacturing powerhouse.
Rajeev Chandrasekhar, the Minister of State for Electronics and IT, welcomed this historic development, underscoring its far-reaching implications for both the domestic and international markets. He extended his congratulations to Tata Electronics for taking the reins of Wistron’s operations, while also recognizing Wistron’s pivotal role in advancing Apple’s global supply chain by leveraging India’s manufacturing capabilities.
In an official statement, Wistron, the Taiwanese electronics giant, officially confirmed the sale, stating, “Wistron Corp held a Board of Directors meeting today and granted approval for its subsidiaries, SMS InfoComm (Singapore) Pte Ltd and Wistron Hong Kong Ltd to sign the Share Purchase Agreement with Tata Electronics Pvt Ltd (TEPL) for the sale of its 100 per cent indirect stake in Wistron InfoComm Manufacturing (India) Pvt Ltd (WMMI).”
This landmark agreement not only solidifies Tata Electronics’ prominent presence in the global tech manufacturing landscape but also positions India to play an increasingly critical role in the production of high-end electronic devices. This move further strengthens India’s standing as a key player in the rapidly evolving and highly competitive global electronics industry.
Tata Electronics’ foray into iPhone manufacturing is poised to have a profound impact on the local employment landscape, contribute to the growth of the electronics manufacturing sector, and enhance India’s position on the world stage as a top-tier electronics manufacturer. The deal highlights the country’s potential to attract significant investments and strengthen its foothold in the global electronics supply chain. As the company embarks on this pioneering journey, it is expected to drive innovation, create jobs, and propel India into a prominent role in the global electronics industry.