Tata to make iPhones in India for domestic and global markets, to acquire Wistron plant for about $125 mn

Tata Group is all set to become the first Indian iPhone maker as Wistron’s board has approved the plan for the sale of its India plant to the salt-to-software conglomerate.

In a statement, Wistron said the transaction price is tentatively estimated at USD 125 million.

“Wistron Corp held a Board of Directors meeting today and granted approval for its subsidiaries, SMS InfoComm (Singapore) Pte Ltd and Wistron Hong Kong Ltd to sign the Share Purchase Agreement with Tata Electronics Pvt Ltd (TEPL) for the sale of its 100 per cent indirect stake in Wistron InfoComm Manufacturing (India) Pvt Ltd (WMMI),” Wistron announced in the statement.