Tata buys iPhone plant in India from Wistron
Last month, Wistron Corporation announced that Tata Electronics would acquire a 100% stake in Wistron InfoComm Manufacturing India (WMMI), a company that assembles Apple’s iPhones in India. Today, Tata Electronics has finally completed the acquisition, enabling it to join Apple’s supply chain as a company for assembling iPhones in India.
Tata Electronics is owned by Tata Group, the largest conglomerate in India. It has multiple subsidiaries, including Tata Motors, which started manufacturing electric vehicles in 2020. Wistron InfoComm Manufacturing India, on the other hand, was owned by SMS InfoComm Singapore and Wistron Hong Kong Limited (both of which are subsidiaries of Wistron Corporation) before getting acquired by Tata Group.
Tata Group now owns a 44-acre iPhone assembly factory in India
Reportedly, the deal is worth $750 million, which includes a payment of $125 million for the production lines and a $550 million loan that was provided by Wistron Corporation to Wistron India. As a part of the deal, Tata Group now owns a manufacturing facility in Hosur, Tamil Nadu. It is spread across 44 acres of land and has eight production lines where iPhone 12 and iPhone 14 devices were assembled.
“Signing of the Share Purchase Agreement to acquire Wistron InfoComm Manufacturing (India) Private Limited is an important milestone for us. The EMS (Electronic Manufacturing Services) industry in India is poised for growth given the strong support from the Government, and we are happy to be participating in this growth story. We are focused on strengthening our capabilities in the manufacturing sector. I thank the entire Wistron team for their cooperation throughout this process,” said Dr Radhir Thakur, CEO and Managing Director of Tata Electronics.
