Tata Group To Manufacture India's First Homegrown iPhone As Wistron Approves Plant Sale
Tata Group is set to bring India's first homegrown iPhone to life, as Wistron Corp greenlights the sale of a plant in the southern part of the country. Union Minister of State Rajeev Chandrasekhar confirmed that production of the indigenous iPhone would commence within two and a half years via a tweet on X.
This development is the result of Wistron Corp's decision to approve the sale of a plant, where iPhone manufacturing will soon take place, to Tata Electronics Private Limited (TEPL). The plant was formerly operated by Wistron InfoComm Manufacturing (India) Private Limited (WMMI).
In its announcement, Wistron Corp revealed that its subsidiaries, SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited, have granted approval for the sale of their 100 per cent indirect stake in WMMI to TEPL. The estimated transaction price for this significant transfer of ownership stands at approximately USD 125 million (about NTD 3.89 billion).
However, the deal still awaits final confirmation and the signing of relevant agreements by both parties, in addition to the necessary approvals. Following the successful completion of the transaction, Wistron Corp has pledged to make requisite announcements and filings in accordance with regulatory procedures.
