Tata Group may become the first Indian iPhone assembler – Kommersant
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India’s largest conglomerate Tata Group is close to an agreement to buy a plant from Taiwanese Apple supplier Wistron. This is reported by the agency with reference to informed sources. Bloomberg. The deal could take place as early as August, and then it will be the first time that an Indian company will assemble the iPhone. iPhones are now being assembled in India by Apple’s three main suppliers: Taiwanese companies Foxconn, Pegatron and Wistron.
The Wistron plant in south Karnataka employs more than 10,000 people. The plant assembles the iPhone 14. According to Bloomberg sources, Tata Group’s negotiations to buy the plant have been going on for a year. The value of the deal could exceed $600 million.
Wistron previously unveiled plans to ship $1.8 billion worth of iPhones during the current fiscal year (ends March 2024). In addition, the company planned to triple the number of workers at the plant by next year. As part of the plant purchase agreement, Tata Group is committed to fulfilling these plans.
India is becoming more important market for Apple. At the beginning of the year, the agency Bloomberg reported that in 2022, an American corporation exported $2.5 billion worth of iPhones manufactured there by local contractors from India, which is twice as much as a year earlier. In addition, Apple is gradually shifting some of its production from China to other countries in the region, in particular to India and Vietnam.
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