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Apple iPhones to be made in India for domestic and global markets by Tata: Rajeev Chandrasekhar

Apple iPhones to be made in India for domestic and global markets by Tata: Rajeev Chandrasekhar

'Congratulations to the Tata team for taking over Wistron operations,' said MoS IT on X platform

Apple iPhones to be made in India for domestic and global markets by Tata: Rajeev Chandrasekhar Apple iPhones to be made in India for domestic and global markets by Tata: Rajeev Chandrasekhar
SUMMARY
  • Wistron’s board approves plan for sale of India unit to Tata Group for $125 mn
  • The plant of Wistron is located near Bengaluru
  • The announcement by Wistron was shared by Minister of State for Electronics and IT Rajeev Chandrasekhar in a post on X (formerly Twitter)

Tata Group is all set to become the first Indian iPhone maker as Wistron’s board has approved the plan for the sale of its India plant to the salt-to-software conglomerate.

MoS IT Rajeev Chandrasekhar on Friday said Tata Group will make Apple iPhones in India for domestic and global markets.

"Congratulations to the Tata team for taking over Wistron operations. Thank you @Wistron for your contributions, and great going for Apple in building a global supply chain from India with Indian companies at its helm," posted Rajeev Chandrasekhar on X platform (formerly Twitter).

Wistron board approved its subsidiaries SMS Infocomm (Singapore) and Wistrom Hong Kong Ltd to sign the share purchase agreement with Tata Electronics Private Ltd (TEPL) for sale of its 100% indirect stake  in Wistron Infocomm Manufacturing (India) pvt Ltd. The transaction price is tentatively estimated at $125 million.

On confirmation and signing of relevant agreements by both sides, the deal will proceed to obtain necessary approvals.

“Following the completion of the transaction, Wistron will make the required announcements and filings in accordance with applicable regulation,” it noted. The plant of Wistron is located near Bengaluru.

"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," said Chandrasekhar.
 

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Published on: Oct 27, 2023, 4:35 PM IST
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