The agreement will now need to receive the necessary approvals. Wistron is said to issue necessary statements and submit filings in compliance with relevant regulations. The deal was signed with SMS Infocom (Singapore) Pte. Ltd and Wistron Hong Kong Ltd, establishing Indian conglomerate Tata Group as the first domestic company to make the Apple iPhone, and joining companies like Foxconn, Pegatron, Wistron and Luxshare.
The Wistron facility is located close to the southern Indian state of Bengaluru.
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“Signing the share purchase agreement to acquire Wistron Infocom Manufacturing (India) Pvt Ltd is an important milestone for us,” Tata Electronics CEO and Managing Director Dr Randhir Thakur said in a statement, in a report by ET Telecom. The EMS (Electronic Manufacturing Services) industry in India is poised for growth due to the strong support of the government and we are happy to participate in this growth story.”
The agreement between Tata Group and Wistron was officially revealed late last month and Minister of State (MoS) for IT Rajeev Chandrashekhar congratulated Tata Group for taking over the operations of Wistron’s unit.
Taiwanese firm Wistron Infocom Manufacturing (India) Pvt. Ltd. had confirmed its acquisition by Tata Group for about $125 million in a stock exchange filing.
Notably, first of all, the India-assembled vanilla iPhone 15 and 15 Plus models started retailing in the country on September 22, which was the launch day. The report said India-made equipment has also been made available in other parts of the world. Apple is assembling iPhone models in India with its contract manufacturers Foxconn, Pegatron and Wistron (which has been acquired by home-grown Tata Group). Apple is said to have shifted 7 percent of its iPhone assembling production to India.
The new iPhone 15 and iPhone 15 Plus models are being manufactured by Apple’s contract manufacturer Foxconn at a production facility near the southern Indian city of Chennai.