Tata Group is in talks with one of the three Apple iPhone makers in India to buy their manufacturing facility in Karnataka, valued at Rs 4,000 crore- Rs 5,000 crore.
The deal will help Tata increase the manufacturing capabilities of Tata Electronics Pvt Ltd (TEPL), which is already a components vendor for Apple’s iPhones and plans to deal with other large manufacturers from Korea and Japan as part of a larger electronics ecosystem.
Tata Sons holds 100% of TEPL stock, making it an owned and operated subsidiary of Tata Sons.
The move could also involve Tata taking up a share of Wistron’s manufacturing business beyond smartphone manufacturing.
Wistron started making iPhones in India in 2017, after years of Apple’s efforts to add manufacturing capabilities in the nation.
Tata Group’s move will allow Apple to reduce its dependency on the Chinese market, which is exposed to strict COVID lockdowns and economic uncertainty.
PM Modi will inaugurate Delhi BJP’s new office on 29 September, marking a historic milestone…
PM Modi honours India’s freedom fighters and nation-builders in the 126th Mann Ki Baat, receiving…
India’s household wealth surged 14.5% in 2024, driven by middle-class growth and diverse investments.
Indian Army signs ₹30,000 crore deal with BEL for DRDO’s Anant Shastra, boosting air defence.
PM Modi honours Maharishi Valmiki and highlights the Ramayan’s enduring values in Mann Ki Baat,…
PM Modi pays tribute to Bhupen Hazarika, Zubeen Garg, and SL Bhyrappa in ‘Mann Ki…