Tata Group Wistron India Takeover: Tata Group, led by the country’s renowned industrialist Ratan Tata, has almost completed the takeover of Wistron, the contract manufacturer of American tech company Apple’s devices. With this, it will become the first Indian company to assemble Apple’s iPhones.
Tata company will assemble iPhone
A company of Tata Group, which does business from automobile to software, already supplies components for the iPhone. After the acquisition of Wistron, this company will be able to assemble iPhones in the country like Apple’s two suppliers Foxconn and Pegatron.
100% equity stake purchase
According to media reports, for this deal, Tata Group has entered into a binding share purchase agreement to buy 100 percent equity stake in Wistron’s unit in the country.
Foxconn and Pegatron assemble iPhones in the country
Some components of Apple are made in Tata Group’s Hosur plant in Tamil Nadu. iPhone 14, iPhone 15 and its other models are assembled in the plants of Apple’s suppliers in the country – Foxconn and Pegatron.
Apple will reduce its production in China
There are also reports about Apple that the company is going to reduce its production in two areas of China. The export of iPhones made in India is expected to increase from 14 percent to 20 percent.
iPhone 15 models perform well in China
Let us tell you that Apple has disappointed the market with its sales forecast for the current quarter. Due to this the company’s shares also declined by about three percent. Apple Chief Executive Tim Cook recently said that the performance of the new iPhone 15 models is good in China.
iPhone sales increased
This may weaken Wall Street’s fears that Apple is losing market share in China to companies like Huawei. The company’s iPhone sales have increased and revenue from services has increased by about one billion dollars. For this reason, the impact of the big decline in sales of iPad and Mac was reduced.