Green light for Tata to become India's first iPhone maker
Tata Group-led Tata Electronics Private Limited has received approval from the Competition Commission of India (CCI) to acquire Wistron Infocomm's 100% equity share.
On Wednesday, the Competition Commission of India (CCI) gave the go-ahead to Tata Electronics Private Limited's 100% acquisition of Wistron Infocomm Manufacturing (India) Private Limited. Wistron Infocomm is a Taiwanese contract manufacturer whose India unit will be acquired by Tata Electronics.
Wistron Infocomm is a key supplier to Apple Inc. It has a plant in South India near Bengaluru that assembles Apple iPhones. As per CCI, Wistron Infocomm's equity share capital will be acquired by Tata Electronics from SMS Infocomm (Singapore) Private Limited and Wistron Hong Kong Limited.
The Commission of India (CCI) has given Tata Electronics Private Limited permission to purchase Wistron Infocomm's 100% equity share, meaning that the Tata Group will soon become India's first iPhone maker. In October of last year, Wistron Infocomm announced that it was selling its India unit to the Tata Group for a sum of $125 million.
With the acquisition of the Wistron plant, Tata Group became the first Indian company to produce iPhones. This historic deal helps India's electronics industry through the PLI scheme. This accomplishment not only represents a significant turning point for the Tata Group, but also shows how India's influence in the world's electronics manufacturing market is growing.