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Tata to become 1st Indian manufacturer of iphones, acquires subsidiary of Apple supplier Wistron

October 27, 2023
Source: theprint.in theprint.in
News Snapshot:
Wistron, the Taiwan-based electronic manufacturer, announced Friday that its board had given approval to sell 100% of the indirect stake of Wistron InfoComm India to Tata Electronics Private Limited. The deal is tentatively valued at $125 million. The group will manufacture the premium phones after it acquired Apple supplier Wistron’s factory in Karnataka, thereby becoming the first Indian company to make iPhones here. New Delhi: The Tata Group will make Apple iPhones in India for the domestic and global markets within two and a half years, Union minister Rajeev Chandrasekhar said Friday, highlighting the government’s support for global brands that...
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