The board has approved the $125 million sale of Wistron InfoComm Manufacturing (India) Private Ltd. to Tata, the company said in a statement on Friday.
Digital Desk: Following Wistron Corp.'s approval of the sale of an assembly factory close to Bengaluru, the Tata Group is set to make the first iPhone made in India. Manufacturing will begin in 2.5 years, according to Union Minister Rajeev Chandrasekhar. Talks about the Taiwanese iPhone maker taking over the plant have been ongoing for almost a year between the airline-to-software giant.
“Within just two and a half years, Tata Companies will now start making iPhones from India for domestic and global markets. Congratulations to the Tata team for taking over Wistron operations. 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," he tweeted.
The board has approved the $125 million sale of Wistron InfoComm Manufacturing (India) Private Ltd. to Tata, the company said in a statement on Friday. Following the confirmation of the arrangement by both sides, the companies will apply for regulatory approvals.
Previous reports, which cited unnamed sources, put the Tata-Wistron deal's value at above $600 million.
As part of their agreement, Tata is also expected to honour several production and staffing obligations made by Wistron, according to a July report from Bloomberg.
The board has approved the $125 million sale of Wistron InfoComm Manufacturing (India) Private Ltd. to Tata, the company said in a statement on Friday. Following the confirmation of the arrangement by both sides, the companies will apply for regulatory approvals.
Coincidentally, the announcement of the improvements came just hours after Prime Minister Narendra Modi highlighted India's technical advancements at the India Mobile Congress.
"Google recently announced that its Pixel phone will be produced in India. India is where Apple's iPhone 15 and Samsung's Fold 5 smartphone are made. We are proud that mobile phones made in India are now being used all over the world," he had stated at the event.
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