Tata Group is in discussions with Taiwan’s Wistron to buy its manufacturing facility for up to Rs. 5,000 crore ($612.6 million), the Economic Times business daily reported on Wednesday, citing people familiar with the talks.
Back in September, Bloomberg reported that Tata was in touch with Wistron to establish a joint electronics manufacturing venture in India with the aim of manufacturing iPhones in the country. The firm is reportedly looking to tap into the expertise of Wistron in product development, supply chain, and assembly.
iPhone models are assembled in China and India by industry giants like Wistron and Foxconn. The deal was expected to boost the iPhone building capabilities of Wistron in India by five times their current output, according to the report, which stated that Tata could acquire a share of Wistron’s manufacturing business beyond smartphones. Tata has already entered the smartphone supply chain as it manufactures iPhone chassis components in southern India.
Earlier this month, Apple’s Taiwanese contract manufacturer Pegatron reportedly began assembling the new iPhone 14 in India. Both Foxconn and Pegatron produce Apple’s latest iPhone 14 handset in India, the former began assembling the smartphone in September.
Pegatron’s decision to assemble the latest iPhone model in India comes after China imposed relentless controls and spot lockdowns across the country, where a majority of Apple’s iPhones are manufactured, hampering economic growth and taking a heavy psychological and financial toll on residents and companies. Last week, it was reported that Foxconn’s November shipments from its largest factory in China could be hit by 30 percent, after violent protests during which workers were beaten at the plant.