Tata Electronics buys 100% of Wistron India

Tata Electronics has entered into a legally binding Share Purchase Agreement with SMS InfoComm (Singapore) and Wistron Hong Kong to purchase a 100% equity investment in Wistron InfoComm Manufacturing (India). This move came when Wistron's board of directors approved the sale of its Indian facility to Tata for an estimated transaction price of roughly $125 million, allowing the production of iPhones for both domestic and worldwide markets.

With this Tata Group will be the first indigenous firm to join the supply chain to assemble iPhones. 

Now, the agreement needs to get the required approvals. Wistron is said to issue necessary statements and submit filings in compliance with relevant regulations. 

The facility of Wistron is located close to IT hub Bengaluru. 

As per the news report, Dr Randhir Thakur, CEO and Managing Director of Tata Electronics said, "Signing of the Share Purchase Agreement to acquire Wistron InfoComm Manufacturing (India) Private Limited is an important milestone for us. The EMS (Electronic Manufacturing Services) industry in India is poised for growth given the strong support from the Government, and we are happy to be participating in this growth story." 

Last month, the agreement between Tata Group and Wistron was revealed officially and Minister of State (MoS) IT Rajeev Chandrasekhar congratulated Tata Group for taking over the operations of Wistron's unit. 

In a stock exchange filing, the Taiwanese firm Wistron InfoComm Manufacturing (India) confirmed its acquisition by Tata Group for around $125 million. 

Notably, in a first, India-assembled vanilla iPhone 15 and 15 Plus models started retailing in the country on September 22, which was the day of launch. India-made devices have also been made available in other parts of the world, reports said. Apple has been assembling iPhone models in India along with its contract manufacturers Foxconn, Pegatron and Wistron (which has been taken over by homegrown Tata Group). Apple is said to have shifted 7 per cent of search iPhone assembling in India. 

The new iPhone 15 and iPhone 15 Plusmodels are being manufactured by Apple's contract manufacturer Foxconn's production unit near southern Indian Chennai.