Tata To Become India’s First IPhone Manufacturer As Wistron Approves Factory Sale

Current Affairs, Economy

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  • Tata Electronics Pvt Ltd (TEPL), the Tata Group’s manufacturing arm, has agreed to buy Wistron’s Indian operations for $125 million (Rs 1,000 crore).
  • As a result, it will be the first Indian company to produce Apple iPhones.
  • The board of directors of Taipei-based Wistron Corp has approved “signing the share purchase agreement with TEPL for the sale of its 100% indirect stake in Wistron InfoComm Manufacturing (India) Pvt. Ltd (WMMI).”
  • The transaction price is tentatively estimated as $125 million (approximately NTD3.89 billion),” it said in a statement.

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