Wistron revealed plans to sell its Indian subsidiary to Tata Electronics for an estimated $125 million on October 27. Tata will take over Wistron's factory in the southern Indian city of Bengaluru, according to local media. The "Made in India" iPhone fits into the government 's efforts to expand the manufacturing sector.
Prime Minister Narendra Modi's "Make in India" policy is seeking foreign investment at a time when multinational companies are looking at alternative manufacturing hubs to China, amid escalating tensions between Washington and Beijing.
On social network X (Twitter), Rajeev Chandrasekhar, Deputy Minister of Information Technology of India, wrote: "A Tata company will start manufacturing iPhones in India for domestic and global markets".
In India, Chinese brand Xiaomi has the largest market share (20%) in smartphone shipments in 2022, according to market research firm Counterpoint . Apple has just 4% but has high expectations for the Indian market, which is home to 1.4 billion people.
Apple opened its first Apple Stores in Mumbai and New Delhi in April 2023. CEO Tim Cook visited India during the visit and met Prime Minister Modi during his stay. He also met with Natarajan Chandrasekaran, chairman of Tata Sons, local media reported.
One of India's leading conglomerates, the Tata Group includes information technology company Tata Consultancy Services and automobile manufacturer Tata Motors. The group also operates a chain of consumer electronics stores.
(According to Nikkei)
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