Tata group is all set to Acquire Apple Supplier Wistron’s Karnataka Factory to Become First Indian iPhone Maker. According to the media reports, Wistron has committed to ship iPhones worth at least $1.8 billion. Tata is set to honor those commitments as Wistron exits
The facility employs more than 10,000 workers
As per the media reports, Tata Group, India’s largest conglomerate, is close to an agreement to acquire an Apple supplier’s factory as soon as August, marking the first time a local company would move into the assembly of iPhones, according to people familiar with the matter. A takeover of the Wistron factory in southern Karnataka state, potentially valued at more than $600 million (roughly Rs. 4,900 crore), would cap about a year of negotiations, said the people, asking not to be named as the matter is private. The facility employs more than 10,000 workers, who assemble the latest iPhone 14 model.
according to the report, Wistron has committed to shipping iPhones worth at least $1.8 billion (roughly Rs. 14,800 crore) from the factory in the fiscal year through March 2024 to win state-backed financial incentives, the people said. It also planned to triple the plant’s workforce by next year. Tata is set to honour those commitments as Wistron exits the iPhone business in India. On and before publishing this news, no official comments from the Spokespersons for Tata, Wistron and Apple has been given on the above matter.
News & Image Source: gadgets360.com
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