According to the news, Tata Group is close to completing the acquisition of Wistron‘s iPhone factory in India

Source: IT Home Author: Wen Zhou

    On January 10, it was reported that Tata Group, a leading Indian company, was negotiating with Wistron to establish a joint venture to assemble Apple‘s iPhone in India last September. In November, it was also reported that Tata hoped to acquire the only manufacturing plant of Wistron in India at a price of up to 50 billion rupees (about 4.12 billion yuan).

    According to Bloomberg, Tata Group is close to acquiring the iPhone factory in India. The deal will make it the first local iPhone manufacturer in India.

    Two insiders said that Tata Group had been negotiating with Wistron Group for several months and hoped to complete the acquisition before the end of March. The two companies discussed various potential cooperative relations, but now the focus of the negotiation is Tata‘s acquisition of a majority stake in a joint venture. They said that Tata would supervise the main manufacturing business with the support of Wetron. One of the people said that Tata‘s goal was to complete the due diligence process by March 31, so that Tata Electronics Department could officially take over the position of Wistron in the government incentive plan.

    IT House learned that Wetron is one of Apple‘s largest suppliers in India, and its factory is located in Karnataka in southern India.

    At present, Tata Electronics, a division of Tata Group, is already supplying parts to Apple. In September this year, it was reported that Tata Group was negotiating with Wistron to establish a joint venture to assemble the iPhone in India.

    Tata Group is the largest group company in India, including 7 departments and 96 companies, operating in more than 40 countries on six continents, and its products are exported to 140 countries, involving aviation, automobile, FMCG products, chemicals, defense aerospace, power distribution systems, engineering, finance, medical treatment, information, railway locomotives, real estate, steel, communications and other fields.

     According to public information, Tata Group got its name from its founder, Jamsidji? Tata, whose family members have almost always served as the chairman of the group. The chairman of the group during the transition period is Latan? Tata.

    Wistron is one of the assemblers of Apple‘s iPhone SE and iPhone 6s smartphones. Later, Lucent Precision announced that it would buy part of Wetron‘s iPhone business for US $472 million, thus becoming Apple‘s first mainland OEM manufacturer.