(Image source from: Reuters.com)
TATA Group will be the first Indian company to enter into the iPhone assembly business. According to Bloomberg, TATA is finalizing the deal with Apple Inc. Supplier factory. TATA Group is planning to acquire Wistron Corp’s factory located in Southern Karnataka, estimated to be worth $600 M (approx Rs 4000 Cr). The official takeover might happen by August, and with this deal, Narendra Modi’s Madi-In- India will have a big boost up. TATA Group is closely looking into the Wistron Group and the negotiations are most likely to be closed.
Winstron has committed shipping of $1.8 billion worth of iPhones by March 2024. TATA is expected to reach their expectations as an honour. Winstron has a workforce of 10,000 and is expected to be tripled to complete the deal on time.
As the rising challenges between Washington and Beijing post-COVID and this deal turned out to be one of its kind. This deal will be a tough challenge to the China market. TATA group with a history of 155 years raging into tech services, TATA’s are into e-commerce production and electronics production for only a year and they are going to lead the world with the current deal and this deal going to be the complete persuade of the global market.