Tata Group bets big on Apple, company to open 100 iPhone retail stores in India

The Tata Group-owned Infiniti Retail has introduced its plans to open 100 stores across the country that will only sell Apple products, the Economic Times reported on Monday, citing two people aware of the matter.

In November, the group was in talks to buy Wistron's only manufacturing facility in India for up to Rs. 5,000 crores, the report added citing people familiar with the discussions.

If it fails to strike a deal to buy the facility in Karnataka then Tata could consider a joint venture with Taiwan's Wistron – one of Apple's top vendors in India – the report said, citing sources close to Tata.

Infiniti Retail also runs Croma chain of stores across the country.

Apple is also said to be in talks with government officials but no concrete plans have been made yet. However, if the iPhone maker succeeds in its plan, it would expand Apple’s footprint in the country.

Earlier this month, Apple said it has signed a contract with another manufacturer to assemble the latest iPhone 14 series smartphones in India. It has entered a contract with Taiwanese manufacturer Pegatron. This makes Pegatron the second Apple supplier after Foxconn to start assembling the iPhone 14 in India. The facilities have been set up in the state of Tamil Nadu and employ about 7,000 workers.

iPhones are also assembled in India by Wistron in Karnataka. Wistron is said to be in talks with the Tata Group to sell their manufacturing facility in Karnataka. A report, published last month claimed that the deal has been pegged at Rs 4,000 crore- Rs 5,000 crore

This comes as the company is going through a global shortage while the demand has been on a rise ever since it launched its flagship iPhone 14 series this year.

The crunch comes as China is going through a lockdown following its zero covid policy. This has led to a shutdown of Apple's assembling units in Zhengzhou, which has been the company's biggest factory in the world.