Shulou(Shulou.com)11/24 Report--

CTOnews.com, January 10 (Xinhua)-- in September last year, it was reported that Tata Group, India's leading company, is in talks with Weitong Capital to set up a joint venture to assemble Apple's iPhone phones in India. In November, it emerged that Tata wanted to buy Whirlon's only manufacturing plant in India for up to 50 billion rupees (4.12 billion yuan).

According to Bloomberg, Tata Group is close to acquiring the iPhone plant in India. The deal will make it the first local iPhone manufacturer in India.

Tata has been in talks with Witron for months and hopes to complete the acquisition by the end of March, according to two people familiar with the matter. The two companies discussed various potential partnerships, but now the focus of negotiations is Tata's acquisition of a majority stake in a joint venture. Tata will oversee major manufacturing operations with the support of Willon, they said. One of the people said that Tata's goal is to complete the due diligence process by March 31 so that Tata Electronics can formally take over Willon's position in the government incentive program.

CTOnews.com learned that Wistron is one of Apple's largest suppliers in India, and its factory is located in the southern Indian state of Karnataka.

Currently, Tata Electronics, a division of the Tata Group, is already supplying parts to Apple. It was reported in September that Tata was in talks with Willon to set up a joint venture to assemble iPhone in India.

Tata Group is the largest group company in India, including 96 companies in seven departments, operating in more than 40 countries on six continents, and its products are exported to 140 countries. It is involved in aviation, automotive, fast consumer products, chemicals, defense aerospace, power distribution systems, engineering, finance, medical care, information, railway locomotives, real estate, steel, communications and other fields.

According to public sources, the Tata Group is named after its founder, Jamshidji Tata, and members of his family have almost always served as chairman of the group. The chairman of the group during the transition period is Ratan Tata.

Weitong Capital is one of the assemblers of Apple's iPhone SE and iPhone 6s smartphones. Later, Lixun Precision announced the acquisition of part of Wittron's iPhone business for $472 million, making it Apple's first contract manufacturer in mainland China.

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