The factory currently employs over 10,000 workers who assemble the iPhone 14 models.
According to a Bloomberg report, Wistron has committed to shipping at least $1.8 billion (roughly Rs. 14,800 crores) worth of iPhones from the factory by March 2024 in a bid to win state-backed financial incentives.
The Tata group is reportedly set to acquire the Apple supplier’s factory in August. The over $600 million Wistron facility in Karnataka will be taken over by the Tatas and will become the first local company to assemble the iPhone. The factory currently employs over 10,000 workers who assemble the iPhone 14 models.
According to a Bloomberg report, Wistron has committed to shipping at least $1.8 billion (roughly Rs. 14,800 crores) worth of iPhones from the factory by March 2024 in a bid to win state-backed financial incentives.
It also plans to triple the plant’s workforce by next year. The report added that Tata is ready to honor those commitments as Wistron exits the iPhone business in India.
The report also suggested that the inclusion of the Indian iPhone is likely to accelerate Apple’s efforts to diversify its product base beyond China and build technology manufacturing in the South Asian nation.
Wistron exported iPhones worth about $500 million (about Rs 4,100 crore) from India in the three months ended June 30, and Apple’s other major Taiwanese suppliers, Foxconn Technology Group and Pegatron, have also grown locally.
In related news, Apple supplier Foxconn plans to apply separately to set up a semiconductor manufacturing unit in India. The Taiwanese firm said it is reviewing the landscape of optimal partners for the project.
“Foxconn is working towards submitting an application related to the Revised Program for the Semiconductors and Display Fab Ecosystem. We are actively reviewing the landscape for optimal partners, Foxconn said in a statement. The new development comes after the company on Monday announced its exit from the semiconductor joint venture with Vedanta.
By applying for a separate chip manufacturing facility in India, Foxconn plans to take advantage of the incentives that India is offering under its semiconductor manufacturing policy.
