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In a historic move that promises to propel India's electronics industry forward, the Competition Commission of India (CCI) has greenlighted Tata Electronics' proposed acquisition of Wistron Infocomm Manufacturing (India). This landmark deal, announced last October, sees Tata take full ownership of Wistron's Indian operations, including a key iPhone assembly plant near Bengaluru.
Tata Electronics' ambitious proposal seeks to acquire 100% of Wistron Infocomm Manufacturing (India)'s equity share capital from SMS Infocomm (Singapore) Pvt Ltd and Wistron Hong Kong Ltd, who collectively hold 99.99%. This ambitious acquisition marks a significant shift for the Taiwanese-dominated iPhone assembly landscape, traditionally controlled by giants like Pegatron and Foxconn.
Established in 2017, Wistron Infocomm Manufacturing (India) has become the focal point of this momentous acquisition. While the deal involves potential vertical overlaps, the CCI determined they wouldn't pose significant competitive concerns. Previously, Wistron's board approved the sale to Tata Electronics for $125 million, paving the way for this historic transaction.
This landmark deal marks a monumental milestone for India's electronics industry. It opens the door for increased domestic iPhone production, potentially placing India on the map as a major player in the global electronics ecosystem. The acquisition not only strengthens India's position in the tech world but also serves as a powerful testament to the nation's growing ambitions in the rapidly evolving electronics sector.
This acquisition marks a historic milestone for India's electronics industry, as it's the first time an Indian company will be manufacturing iPhones. It represents a major step forward in India's ambitions to become a global electronics manufacturing hub.
Tata Electronics acquired Wistron's Indian operations for $125 million, as approved by Wistron's board.
This deal opens the door for increased domestic iPhone production in India, potentially making the country a more significant player in Apple's global supply chain.
The CCI approved the acquisition after reviewing potential vertical overlaps and determining they wouldn't pose significant competitive concerns in the market.
This acquisition strengthens India's position in the global electronics ecosystem and demonstrates the country's growing capabilities in high-tech manufacturing.
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