Team Blitz India
NEW DELHI: Tata Group is all set to become the first Indian iPhone maker as Wistron’s board has approved the plan for the sale of its India plant to the salt-to-software conglomerate.
MoS IT Rajeev Chandrasekhar said Tata Group will make Apple iPhones in India for domestic and global markets.
“Congratulations to the Tata team for taking over Wistron operations. Thank you @Wistron for your contributions, and great going for Apple in building a global supply chain from India with Indian companies at its helm,” posted Rajeev Chandrasekhar on X platform (formerly Twitter).
Wistron board approved its subsidiaries SMS Infocomm (Singapore) and Wistrom Hong Kong Ltd to sign the share purchase agreement with Tata Electronics Private Ltd (TEPL) for sale of its 100% indirect stake in Wistron Infocomm Manufacturing (India) pvt Ltd. The transaction price is tentatively estimated at $125 million.