Tata to become first Indian company to make iPhones with the $125 million Wistron deal
Apple's been assembling iPhones in India for over half a decade now, with the first "Made in India" iPhone being the iPhone SE produced by Foxconn in 2017. Apple has two more partners in India for making iPhones - Pegatron and Wistron. However, with Wistron set to exit the iPhone business in India, its 100% stake will be purchased by Tata Electronics Private Limited (TEPL), making it the first Indian company to produce iPhones.
TEPL, which is a part of the Tata Group known for selling everything from salt to software to cars, will purchase the indirect stake from Wistron InfoComm Manufacturing India Private Limited for a transaction price tentatively estimated at $125 million (INR1,042 crores/â¬118 million).
In a post on X, Mr. Rajeev Chandrasekhar, India's Union Minister of State for Entrepreneurship, Skill Development, Electronics & Technology, said Tata will make iPhones in India for sale in domestic and global markets.
The Indian multinational conglomerate, founded in 1868, will reportedly produce iPhones in India at Wistron's assembly unit near Bengaluru - the capital of South Indian state Karnataka.
Tata Group making iPhones in India should provide a significant boost to Indian Prime Minister Mr. Narendra Modi's "Make in India" initiative while also helping persuade other global electronics brands into considering India as an alternative to China for manufacturing products and diversifying their production base.