Mumbai: Tata Group is close to finalising a deal to acquire a Wistron factory in Karnataka, India, and become 1st Indian brand to make iPhones.
According to Business Today, the deal, valued at over $600 m, has been a year-long negotiation. The factory is valued at over $1 billion and has promised Apple to ship $1.8 billion worth of iPhones by March 2024.
According to Business Today, “the report claims that Wistron has promised Apple to ship $1.8 billion dollar worth of iPhones by March 2024. The iPhone maker had also committed to triple the workforce of the factory by next year. The report suggests that Tata Group will deliver these commitments once it finalizes the deal.”
As part of its restructuring efforts, Wistron is finally selling its iPhone assembly facility in Kolar to the Tata Group. Tata is expected to improve on the current capacity of the production of iPhones in the Wistron factory.
“It is worth noting that the Tata Group is reportedly conducting trials to assemble upcoming iPhone 15 models in India,” said Business Today.
