Historic Deal: Tata Electronics Seals Takeover of iPhone Assembler Wistron Infocomm, Marking a Major Milestone for India’s Electronics Industry
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.
