New Delhi, JNN. Tata Group is soon going to acquire the company that makes iPhones on contract for Apple. The agreement in this regard has been finalized and its ownership will come to Tata by August. This will be the first time that a domestic company will step into the assembly of iPhones. However, Tata, Wistron and Apple spokespersons refused to comment on this matter.

Agreement worth more than $600 million

There are reports in the media that Tata Group is going to acquire Wistron Corp's factory in South Karnataka. The potential value of this deal is more than $ 600 million. More than 10,000 employees work here, who assemble the latest iPhone 14 model.

According to the report, Wistron has committed to wholesale at least $1.8 billion worth of iPhones from the factory by March 2024 to receive state-backed financial incentives.

Foxconn also assembles iPhones

It also plans to triple the factory's workforce by next year. Tata is prepared to honour these commitments. During the first three months of the current fiscal year, Wistron exported iPhones worth about $500 million from India. Foxconn and Pegatron Corporation also assemble iPhones in the country for Apple.