The Tata Group has completed the acquisition of Wistron's Indian operations at a whopping $125 million (approx. ₹1,040 Crore), enabling them to engage in the production and assembly of Apple iPhones in India, catering to both the local and international markets. Union Minister Rajeev Chandrasekhar shared this news on the social media platform X.
“Within just two and a half years, Tata Group will now start making iPhones from India for domestic and global markets from India. Congratulations to the Tata team for taking over Wistron's operations," Chandrasekhar said.
Accompanying his announcement, he included a press release from Wistron. The press release disclosed that Wistron had convened a board meeting on that day and had authorized its subsidiaries, SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited, to enter into a share purchase agreement with Tata Electronics Private Limited (TEPL) for the sale of Wistron's complete indirect ownership in Wistron InfoComm Manufacturing (India) Private Limited.
"Upon confirmation and signature of the relevant agreements by both parties, the deal will proceed to obtain the necessary approvals. Following the completion of the transaction, Wistron will make the required announcements and filings in accordance with applicable regulations," the press release said.
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This declaration officially makes the Tata Group as the inaugural Indian company to produce iPhones within the country.
Crediting PM Modi for the development, Chandrasekhar said, PM @narendramodi Ji's visionary PLI scheme has already propelled India into becoming a trusted & major hub for smartphone manufacturing and exports.
“The Government of India, represented by the Ministry of Electronics and Information Technology (MeitY), stands fully in support in growth of Global Indian Electronics companies that will in turn support global Electronic brands that want to make India their trusted manufacturing & talent partner and to realize the PM's goal of making India a global electronics power,” he added.
