The Tata Group is reportedly nearing an agreement to acquire Wistron’s factory in Karnataka, India, according to the news agency Bloomberg. This acquisition would mark the entry of India’s largest conglomerate into the assembly of iPhones, becoming the first local company to do so.
The Wistron factory, valued at over USD 600 million, currently employs more than 10,000 workers and is responsible for assembling the iPhone 14 model. Previously, Wistron had committed to supplying iPhones worth USD 1.8 billion from the factory in the current year, with plans to triple the plant’s workforce. These commitments are expected to be honored by the Tata Group.
This move is seen as a significant step in Apple’s efforts to diversify its production away from China, amid escalating tensions between China and the United States and pandemic-related restrictions. In addition to Wistron, Apple’s key suppliers in India include Foxconn Technology Group and Pegatron Corp.
Apple has been actively working to reduce its dependence on manufacturing in China and increase production in other countries. Recently, the India Cellular and Electronics Association (ICEA) reported that Apple had exported iPhones worth Rs 10,000 crore (USD 1.34 billion) from India in May.
This achievement made Apple the first brand to reach this milestone in India. In the first two months of the 2023-24 fiscal year, iPhone exports from India exceeded Rs 20,000 crore (USD 2.4 billion), compared to Rs 9,066 crore in the same period the previous year.
