Tata Group, a major conglomerate in India, is set to acquire iPhone manufacturing business in India after Wistron’s board of directors approved the sale of Wistron InfoComm Manufacturing to Tata for a value of $125 million. Wistron is one of the Taiwanese companies that have iPhone assembly plants in India. Two other companies with similar plants are Pegatron and Foxconn. The factory sold to Tata Group is located near Bengaluru. Recently, Wistron had plans to sell this particular factory as they wanted to focus on products with higher profit margins than iPhones.
For Tata Group, this deal is part of their strategy to expand their business with Apple. They already have component manufacturing facilities for iPhones in India. Additionally, the company also plans to open over 100 Apple retail stores.
TLDR: Tata Group, a major Indian conglomerate, is acquiring Wistron’s iPhone manufacturing business in India for $125 million. This move is aimed at expanding Tata Group’s presence in the Apple ecosystem, as they already have component manufacturing facilities and plan to open more Apple retail stores.