9 Nov 2023
The deal is worth $750 million, including debt. It will make Tata Group the first Indian company to assemble iPhones in India.
Tata Group took over the iPhone assembling facility in Hosur, Tamil Nadu, from Wistron for $750 million, including debt. Tata Electronics signed the deal on Wednesday. Wistron is among India's top three Apple vendors, besides Pegatron and Foxconn.
Since 2018, Wistron had four iPhone assembly lines in the country and was about to open another manufacturing facility in Kolar by November-end, with production commencing in January 2024. Tata was initially focused on making iPhone cases in the Hosur facility, with around 20% locally sourced consumables. But now it will be able to scale up.
Wistron’s facility was vandalized by workers in December 2020 on the grounds of poor working conditions and non-payment of dues. Apple had put Wistron on probation in December 2022 until it sorted out worker issues. This deal comes in light of Apple’s plans to shift 25% of iPhone manufacture to India from China by 2025.