Tata Electronics, a Tata Group company, has finalized the acquisition of a 100% equity stake in Wistron InfoComm Manufacturing (India) Private Limited (WMMI), becoming the first Indian company to manufacture Apple iPhones. The Share Purchase Agreement (SPA) was signed with SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited. The Wistron plant, situated near Bengaluru, will now operate under Tata Electronics. The deal is a crucial milestone for Tata Electronics, contributing to the growth of the Electronic Manufacturing Services (EMS) industry in India. Randhir Thakur, CEO & Managing Director of Tata Electronics, expressed enthusiasm about the acquisition, emphasizing the company’s commitment to strengthening its capabilities in the manufacturing sector.
The agreement is subject to necessary approvals, and further announcements and filings will be made in compliance with regulations. The deal was officially disclosed on October 27, earning Tata Group the distinction of being the first Indian company to engage in the complete assembly of iPhones. With government support, particularly through the Production-Linked Incentive (PLI) scheme, India has become a significant hub for smartphone manufacturing and exports. Following the acquisition, Tata Electronics is set to manufacture iPhones for both domestic and global markets, expanding its operations to include the entire iPhone assembly process.
Apple analyst Ming-Chi Kuo has indicated that Tata Electronics, in collaboration with Foxconn and Pegatron, is expected to commence preliminary manufacturing for the iPhone 17 in the latter half of 2024, with a planned launch in 2025. This move aligns with Apple’s strategy to diversify its supply chain and reduce reliance on Chinese manufacturing. The acquisition underscores Tata Group’s participation in India’s growing electronics manufacturing sector, reflecting the broader trend of global tech companies exploring manufacturing opportunities in the country.
