Tata Group to Assemble iPhones in India Following Purchase of Wistron Manufacturing Unit

Tata Group to assemble iPhones for local and global markets, solidifying Apple's strategy of diversifying production away from China; deal worth $125 million finalizes after a year of negotiations.

• The Tata Group will begin assembling iPhones in India for both the local and international markets following Wistron Corp's approval of the sale of its Indian manufacturing unit to Tata Group.
• The deal, which was finalized for an estimated $125 million after over a year of negotiation, aligns with Apple's strategic plan to diversify their production away from China.
• Apple has been promoting India as a key growth area and began its iPhone assembly in the country with Wistron in 2017, subsequently adding other contracts with companies like Foxconn and Pegatron Corp.
• In 2020, Wistron's Karnataka-based plant had to shut for three months due to workers destroying property during wage-related protests, causing substantial losses.
• Tata Group, known for its diverse business scope from tech to airline, plans to open 100 Apple stores in the South Asian market and comes as the first Indian company to assemble iPhones.

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