Wistron News

Wistron's board of directors has granted approval for its subsidiaries, SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited, to sign the Share Purchase Agreement with Tata Technologies Private Limited (TEPL) for the sale of its 100% indirect stake in Wistron Infocomm Manufacturing (India) Private Limited (WMMI). 

Tata is in discussions with Wistron to establish an electronics manufacturing joint venture plant and assemble the iPhone. According to the report, the company intends to leverage Wistron's expertise in product development, supply chain, and assembly. Apple has been looking for alternative manufacturing locations in order to reduce its reliance on China.

The firms are required to manufacture smartphones worth Rs 8,000 crore each to get PLI benefits. The companies are likely to export 60 per cent of the production of iPhones in the country. Apple is expected to manufacture iPhones worth $6 billion (Rs 47,000 crore) in India.

Apple assembles a bulk of its iPads in China but is fast diversifying production to markets such as India and Vietnam to minimise the impact of the U.S.-China trade war and the coronavirus crisis. Apple`s push comes at a time its iPhone supplier Wistron is just restarting operations at a southern Indian plant after angry workers went on a rampage last year. Apple is yet to take the Taiwan manufacturer off of probation. New Delhi is also planning another PLI, at a budget of roughly 50 billion rupees over five years, to boost domestic manufacturing of wearable devices such as smartwatches, the sources said, adding the plan could be announced within two months.

Wistron estimates loss at over Rs 437 cr due to violence. Employees carried out arson, loot at Wistron's Kolar plant on Dec 12. They ransacked building, damaged vehicles, carried out loot during the violence.

Imported devices will get more expensive than locally made ones – Here is why.

The Optiemus-Wistron JV will set up its plant in Noida.