It also said that Wistron has committed to ship iPhones worth at least $1.8 billion from the factory in the fiscal year through March 2024 to win state-backed financial incentives.
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New Delhi: India’s very own Tata Group is closing in on an agreement to acquire Apple Inc. supplier Wistron Corp’s factory in August, the Bloomberg reported quoting sources. This will be the first time a local company would move into the assembly of iPhones.
Earlier, India.com reported the news regarding Tata Group’s planned acquisition of the takeover of the Wistron Corp. factory in southern Karnataka state, potentially valued at more than $600 million.
As per the Bloomberg report, the Wistron facility employs more than 10,000 workers, who assemble the latest iPhone 14 model. It also said that Wistron has committed to ship iPhones worth at least $1.8 billion from the factory in the fiscal year through March 2024 to win state-backed financial incentives. It also planned to triple the plant’s workforce by next year. Tata is set to honor those commitments as Wistron exits the iPhone business in India.
