Tata Group signs purchase agreement with Wistron India to manufacturing iPhone 17 in 2024،
The Indian group Tata is now part of the elite group that will manufacture iPhones. According to the latest update, Tata Group has signed a binding share purchase agreement with Wistron Hong Kong Limited and SMS InfoComm (Singapore) to acquire 100% stake in Wistron Infocomm Manufacturing in India. With the current deal in place, Tata Group becomes part of Apple’s supply chain as an iPhone assembler in India.
The Indian conglomerate has achieved a significant milestone by signing the share purchase agreement. This is a major step towards electronic manufacturing services (EMS) and its impressive growth in India, with the Indian government showing strong support in this area. This comes from the Managing Director and CEO of Tata Electronics – Dr Randhir Thakur.
The Tata group on October 27 unveiled its action plan to acquire Wistron’s manufacturing plant in India’s Karnataka. It will pay $125 million for a 100% stake to acquire the assembly lines. With the current development revealed early Thursday, the deal amounts to a total of $750 million, which includes a $550 million inter-company loan that Wistron’s parent company signed for the Tata Group.
Apple has been manufacturing iPhones in India since 2017. It makes cases at its Hosur factory, starting with the semi-finished iPhone SE. With the current acquisition in place, the Tata Group will enter the group of elite assemblers in India with end-to-end assembly of iPhones in the country. Currently, Foxconn, Luxshare, Pegatron and Wistron lead the manufacturing and assembly of iPhones and Tata Group will take over manufacturing in India.
According to Apple analyst Ming-Chi Kuo, Tata Electronics, along with Pegatron and Foxconn, will begin launch manufacturing of the iPhone 17 models which are expected in September 2025. Manufacturing will begin as early as the second half of 2024, while Apple prepares to diversify its activities. supply chain eliminating Apple’s dependence on China.
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