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

CTOnews.com July 11, Tata Group is expected to acquire iPhone contract manufacturer Weichuang Capital in August, the transaction price is expected to exceed 600 million US dollars (CTOnews.com Note: currently about 4.338 billion yuan), once completed, it will mark the first time that an Indian company has set foot in the iPhone assembly business.

According to Bloomberg, Tata Group is seeking to acquire the Witron plant in Karnataka, which employs more than 10000 people and is currently assembling iPhone 14 models.

Witronix has pledged to ship $1.8 billion worth of iPhone in the fiscal year ending March 2024 and to triple the number of workers next year. Sources also revealed that Tata Group will continue to fulfill these commitments after the acquisition of the plant.

Earlier, a TrendForce report claimed that the upcoming iPhone 15 and iPhone 15 Plus models might be made by Tata Group in India. According to the report, Tata Group will receive small orders, which means that the company will only receive partial orders for iPhone 15 and iPhone 15 Plus.

CTOnews.com learned officially that Tata Group is currently 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 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.

Tata has been in talks with Witron for months, according to people familiar with the matter. If the acquisition is successful, Tata will take over all eight iPhone production lines and 10,000 workers, including thousands of engineers, at the Witron India plant. Witronix will continue to serve as iPhone's service partner in India.

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