After multiple delays, The Tata Group has finally completed the Wistron deal by acquiring a 100% equity stake in Wistron Infocomm Manufacturing (India). The binding share purchase agreement, signed with SMS InfoComm (Singapore) and Wistron Hong Kong Limited, solidifies the Tata Group’s entry into iPhone assembly.
The deal, valued at USD 750 million, includes a USD 550-million inter-corporate loan provided by the parent to Wistron India, of which Tata Group will pay about USD 125 million. This move follows the Tata Group’s initial foray into the iPhone supply chain with a casings facility in Hosur, Tamil Nadu.
With the acquisition of the Wistron unit, the Tata Group is poised to engage in end-to-end iPhone assembly in India, marking a historic milestone as the first Indian company to join established players like Foxconn, Pegatron, Luxshare, and Wistron in iPhone manufacturing.
Earlier last week, renowned Apple analyst Ming-Chi Kuo provided an update on iPhone production, revealing significant shifts toward India. Kuo predicts that the New Product Introduction (NPI) for iPhone 17 will likely commence in India, marking a pivotal change where the phone will be initially manufactured in India rather than China.
He further predicted that iPhone production in India will increase to 20–25% by 2024. So, it’s evident that the Tata Group will play a significant role in the production facility in India.
Dr Randhir Thakur, CEO and Managing Director of Tata Electronics, in a statement, 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.