The Tata Group is all set to become India’s first hometown iPhone maker company as reported by Bloomberg News. The news came after one of Apple Inc’s key suppliers, Wistron Corp, agreed to sell a plant in South India to the Indian conglomerate. Wistron’s board approved the sale of Wistron Info Comm Manufacturing (India) Private Ltd. to Tata for $125 million (Rs 1,040 crores), Bloomberg said, quoting a statement by the Taiwanese electronics manufacturer.
The unit operates an iPhone assembly plant near Bengaluru, a person familiar with the matter said, it added. Tata has been the centre for the talks ranging over a year for taking 0over the plant, Bloomberg added. This was primarily hinted by India’s IT minister, Rajeev Chandrasekar in July. The following move comes as both India and Apple Inc are eager to position the South Asian nation as an alternative to China as an electronics manufacturing destination.
“It has sought to diversify its business beyond thin-margin iPhone manufacturing into areas such as servers, agreeing to sell its iPhone production business in China to a competitor in 2020,” the news report said. It has been also reported by Bloomberg that Tata has accelerated its hiring process in its factories situated in Hosur, near Bengaluru, where it produces iPhone components. The plant stands over hundred acres of land where the company can establish iPhone manufacturing stores as well in future. Tata has also announced that it will launch 100 Apple stores in the country of 1.4 billion.
The 150-year-old Tata Group is the most trusted company which produces everything from branded salt and Tetley Tea to steel and Jaguar cars, and runs an airline and Starbucks cafés in the country. Tata Group’s Tata Consultancy Services Ltd. is Asia’s largest IT outsourcing company and one of India’s most valuable by market capitalization.
