Tag: wistron

Tata Reportedly Completes Wistron India Takeover, Set to Become First Indian iPhone Manufacturer

The Tata Group has reportedly completed its takeover of Apple supplier Wistron India, bringing the Indian tech conglomerate one step closer to becoming the first Indian firm to assemble Apple’s iPhone models in the country. Takeover discussions began a year ago, and Tata already supplies components for the Cupertino company’s smartphones in Tamil Nadu. However, the acquisition of Wistron’s production lines in India will allow the company to assemble iPhone models like Foxconn and Pegatron, two of Apple’s suppliers that assemble the phones in India.

The Economic Times reports that the Tata Group has signed a binding share purchase agreement to acquire 100 percent equity stake in Wistron India. The deal to acquire the Indian unit from Singapore-based SMS Infocomm and Wistron Hong Kong, is worth a total of $750 million (roughly Rs. 6,250 crore), according to the report, and Tata will pay $125 million (roughly Rs. 1,040 crore) to acquire Wistron’s assembly lines in India.

While the Tata Group was already producing some components for Apple in India at its plant in Hosur, Tamil Nadu, the Wistron India acquisition allows it to become a full-fledged iPhone assembler. Apple has other suppliers in India like Foxconn and Pegatron that assemble the iPhone 15, iPhone 14, and other recent models, but Tata will be the first Indian firm to manufacture the handsets in the country.

Earlier this month, TF Securities International analyst Ming-Chi Kuo predicted that Apple would lower its production scale in two regions in China considerably next year. Meanwhile, the percentage of iPhone units made in India that are shipped globally is expected to rise from 14 percent to between 20 to 25 percent by 2024.

Kuo also claims that the development of the iPhone 17 — the successor to the purported iPhone 16 that is likely to launch in 2024 — is set to happen outside China for the first time. Apple will start the new product introduction (NPI) process for the iPhone 17 in India, during the second half of 2024, according to Kuo. Based on its annual release cycle, Apple’s iPhone 16 and iPhone 17 series are expected to be released in 2024 and 2025, respectively.

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Apple to Develop iPhone 17 in India by 2024, Up Proportion of Locally Made Phones to 25 Percent: Ming-Chi Kuo

Apple is planning to increase the proportion of iPhone units produced in India, according to details shared by TF Securities International analyst Ming-Chi Kuo. In a new blog post on Thursday, the analyst states that the Cupertino company is also working on developing the iPhone 17 — expected to launch in global markets in 2025 — in India starting in the second half of next year. Meanwhile, the company’s production scale in two regions in China is expected to decline considerably in 2024.

In a Medium post, Kuo stated that Apple assembler Foxconn, which currently owns nearly 80 percent of the production lines for iPhone models in India, is expected to scale down its production in China next year by up to 45 percent and 85 percent in Zhengzhou and Taiyuan, respectively. Meanwhile, up to 14 percent of global iPhone units that are shipped globally — including the iPhone 15 — are currently produced in India — this number is expected to rise to between 20 percent and 25 percent by 2024, according to the analyst.

Meanwhile, the iPhone 17 is expected to be the first model to be developed outside China, according to Kuo. The company will start the new product introduction (NPI) process for the iPhone 17 in India, during the second half of 2024. In order to minimise design risk, the company has picked the standard model to be developed outside China, and the phone is expected to make its debut in global markets in the second half of 2025.

Last week, Taiwan’s Wistron granted approval for the sale of its 100 percent indirect stake in Wistron InfoComm Manufacturing to Tata Electronics, for approximately $125 million (roughly Rs. 1,040 crore). Tata’s acquisition of Wistron’s production lines will make it the first Indian firm to assemble Apple’s iPhone models in the country.

Kuo points out that the iPhone maker’s move to make Tata one of its smartphone assemblers in India could help bolster the company’s relationship with the government of India, and is “critical” to the company’s growth over the next 10 years, according to Kuo. Tata will join Pegatron and Foxconn in producing currently supported iPhone units in the country.

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Tata Set to Become First Indian iPhone Maker in India as It Acquires Winston Unit

iPhones will soon be made in India by an Indian company, as Tata has acquired the Wistron unit to become the first Indian iPhone maker. Wistron, the Taiwan-based contract manufacturer for Apple, has decided to sell a 100 percent stake in the Wistron InfoComm Manufacturing (India) unit to Tata Electronics for a deal price of $125 million (nearly Rs. 1,040 crores). With the new takeover, Tata will set itself as the first-ever iPhone maker in India. Both companies reached this decision after Wistron approved the deal post its board meeting on October 27. 

Rajeev Chandrashekhar, the Union Minister of State for Electronics and Technology, has also confirmed the development with his post on X. Under Prime Minister Narendra Modi’s PLI scheme, Tata Group will begin making iPhones in India within the next two and a half years. These Apple devices will be up for sale in both domestic as well as global markets. 

He also shared a press release along with his post, which mentioned that Wistron has “granted approval to its subsidiaries, SMS InfoComm (Singapore) and Wistron Hong Kong Limited, to sign the share purchase agreement with Tata Electronics Private Limited (TEPL).” Once both parties sign the relevant agreements, the deal will move towards the next step of clearing further approvals. 

Tata has been in talks over the takeover of the Wistron unit for some time now. In July, it was reported that the conglomerate was close to acquiring Wistron by August. However, there has been a delay of a few months in the plan. As per the report, Tata will engage in the assembling of iPhones in India at the Wistron unit that currently operates an iPhone assembly plant near Bengaluru. 

The company has also been previously reported to be planning to open 100 stores across the country that will only sell Apple products. Apart from the recent takeover, Apple iPhones are assembled in India by two global suppliers – Foxconn and Pegatron — in Tamil Nadu. In fact, this year, India started selling ‘assembled in India’ iPhone 15 models on launch day for the first time. 

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India Could See Increase in Manufacturing of iPhones, Other Premium Phones After Tax Cuts on Imported Parts

India expects to manufacture more mobile phones this year after the government eliminated import tariffs on some components used to assemble high-end phones from global companies such as Apple, a tax official told Reuters on Friday.

Indian mobile phone exports nearly doubled year-on-year to $5 billion (roughly Rs. 40,960 crore) between April-October in 2022, primarily supported by the government’s key scheme to offer incentives to local manufacturers.

At the annual budget for 2023/24 on Wednesday, Finance Minister Nirmala Sitharaman eliminated the 2.5 percent customs duty on select parts of mobile camera phones.

“The duty structure now encourages them (phone manufacturers) to import parts and assemble here,” V. Rama Mathew, member of India’s Central Board of Indirect Taxes and Customs, said in an interview.

“The duty changes will benefit all phone sectors. But it will also benefit the premium phone sector because if you see the cost of components, camera assembly contributes substantially,” Mathew said.

The move comes as Apple aims to boost its share of India-produced phones to 25 percent. Apple exports from India hit $1 billion (roughly Rs. 8,190 crore) in December.

The Cupertino, California-based company has bet big on India since it began assembling iPhones in the country in 2017 via Wistron, and later with Foxconn, in line with the Indian government’s push for local manufacturing.

Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, sources told Reuters late last year.

J.P. Morgan analysts have estimated that a quarter of all Apple products would be made outside China by 2025, up from 5 percent currently.

© Thomson Reuters 2023

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Tata Group in Talks With Wistron to Manufacture iPhones in India: Report

Tata has reportedly been in touch with Taiwanese supplier Wistron to establish a joint electronics manufacturing venture in India with the aim of manufacturing iPhones in the country. Tata purportedly seeks to tap into the expertise of Wistron in product development, supply chain, and assembly. If the deal goes through, Tata would reportedly become the first Indian company to manufacture iPhones. Currently, these handsets are assembled by industry giants like Wistron and Foxconn in China and India. This deal is expected to boost the iPhone building capabilities of Wistron in India by five times their current output.

According to a Bloomberg report, Tata could end up obtaining some equity in Wistron’s Indian operations. The companies may build a new manufacturing plant together. Rumours suggest that they could end up taking both measures together.

It is believed 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.

Apple has been reportedly seeking to ramp up manufacturing in India with the newly launched iPhone 14 series.

Tata’s supposed deal with Wistron could also encourage other global electronics brands to consider India for assembling their devices and reduce their reliance on China.

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