Tata Electronics Private Limited (TEPL), a Tata Group company, has signed a Share Purchase Agreement (SPA) to acquire a 100% equity stake in Wistron InfoComm Manufacturing (India) Private Limited (WMMI). The agreement was signed with SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited. The new agreement will make Tata Group the first Indian company to make Apple iPhones. The Wistron plant is located near Bengaluru.
Randhir Thakur, CEO & Managing Director of Tata Electronics, expressed his enthusiasm about the acquisition, stating, "Signing of the Share Purchase Agreement to acquire Wistron InfoComm Manufacturing (India) Private Limited is an important milestone for us. The EMS (Electronic Manufacturing Services) industry in India is poised for growth given the strong support from the Government, and we are happy to be participating in this growth story. We are focused on strengthening our capabilities in the manufacturing sector. I thank the entire Wistron team for their cooperation throughout this process.”
The deal will now proceed to obtain the necessary approvals. Wistron will make the required announcements and filings in accordance with applicable regulations.
The deal between Tata Electronics and Wistron India was officially revealed on October 27. Post the announcement, MoS IT Rajeev Chandrasekhar congratulated the Tata Group for becoming the first Indian company to make Apple iPhones. He said, "PM @narendramodi's visionary PLI scheme has already propelled India into becoming a trusted & major hub for smartphone manufacturing and exports. Now within just two and a half years, @TataCompanies will now start making iPhones from India for domestic and global markets from India."
After the recent acquisition of the Wistron unit, the Tata Group is set to expand its operations to include the complete assembly of iPhones in India. This move makes it the first Indian company to join the elite group of iPhone manufacturers, which includes Foxconn, Pegatron, Luxshare, and Wistron.
With a recent post on X, Apple analyst Ming-Chi Kuo has claimed that that Tata Electronics, in collaboration with Foxconn and Pegatron, will commence the preliminary manufacturing process for the iPhone 17, slated for a 2025 launch, as early as the latter half of 2024. This development is seen as a significant step in Apple’s ongoing efforts to diversify its supply chain away from China.