Technology
Tata Group close to an agreement to manufacture iPhones in India – Crypto News
Tata Group is closing in on an agreement to acquire Apple’s supplier factory in India. The factory could be acquired by August and once closed this will be the first time a local company will start assembling iPhones.
According to news agency Bloomberg, Tata Group is looking to takeover a Wistron Corporation factory in Karnataka. The factory has more than 10,000 employees, is valued at over $600 million and currently assembles the iPhone 14 model.
The Wistron group has committed to shipping $1.8 billion worth of iPhones by the fiscal year ending March 2024 and triple the workforce of the factory by next year. The Bloomberg report claims that Tata Group will honor these commitments after acquiring the factory.
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Updated: 11 Jul 2023, 11:52 AM IST
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