Tata Group to become first Indian iPhone manufacturer, completes acquisition of Wistron India

The Tata Group has reportedly finalised its acquisition of Wistron India, a move that positions the conglomerate to become the first Indian company to assemble Apple's iPhone models within the country.

The takeover discussions, initiated a year ago, have now concluded, with Tata already supplying components for Apple in Tamil Nadu. The acquisition of Wistron's production lines in India allows Tata to join Foxconn and Pegatron, Apple's existing suppliers assembling iPhones in the country.

According to reports, Tata Group has signed a binding share purchase agreement to secure a 100% equity stake in Wistron India. The deal, valued at $750 million, involves Tata paying $125 million to acquire Wistron's assembly lines in India. While Tata was already involved in producing some components for Apple at its Tamil Nadu plant, the Wistron India acquisition elevates it to the status of a comprehensive iPhone assembler, reported The Economic Times.

Apple's other suppliers in India, such as Foxconn and Pegatron, currently handle the assembly of iPhone 15, iPhone 14, and other recent models. With this acquisition, Tata Group emerges as the first Indian firm to manufacture iPhones in the country.

Earlier predictions from TF Securities International analyst Ming-Chi Kuo suggested that Apple would significantly reduce its production scale in two regions in China next year. Simultaneously, the percentage of iPhone units made in India and shipped globally is expected to rise from 14% to 20-25% by 2024.

Kuo also noted a significant development, claiming that the iPhone 17, Apple's successor to the purported iPhone 16 slated for a 2024 launch, would undergo development outside China for the first time.

The introduction process for the iPhone 17 is anticipated to commence in India during the second half of 2024. As per the annual release cycle, the iPhone 16 and iPhone 17 series are expected to be released in 2024 and 2025, respectively.