Apple
Tata Group moving closer towards becoming first Indian iPhone maker: Reports
India's largest conglomerate Tata Group is inching closer to an agreement to acquire an Apple Inc supplier's factory in August, media reports said.
If the deal is reached then the Group will become the first Indian brand to assemble iPhones.
Tata Group, India’s largest conglomerate, is close to an agreement to acquire an Apple Inc. supplier’s factory as soon as August, marking the first time a local company would move into the assembly of iPhones, people familiar with the matter told Bloomberg.
A takeover of the Wistron Corp. factory in southern Karnataka state, potentially valued at more than $600 million, would cap about a year of negotiations, the people, asking not to be named as the matter is private, told Bloomberg.
The facility employs more than 10,000 workers.
It assembles iPhone 14 model.
Foxconn and Wistron are currently the two major companies that manufacture Iphones in India.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
