© Reuters. The Tata group will manufacture iPhones in India for the domestic and international markets
New Delhi, Oct 27 (.).- The Government of India announced on Friday that Indian conglomerate Tata Group will manufacture Apple’s (NASDAQ: ) iPhone mobile devices in India, targeting both the domestic and international markets.
“Within two and a half years, Tata Group will start manufacturing iPhones from India for domestic and global markets,” India’s Deputy Minister of Electronics and Technology Rajeev Chandrasekhar said on X, formerly Twitter (NYSE: ).
Taiwanese supplier Wistron Corp, which has so far assembled the giant Apple’s products in the Asian country, approved the purchase of its Indian subsidiary by Tata for an approximate value of $125 million, the company said in a statement.
The decision is part of US giant Apple’s new strategy to shift its manufacturing practice from China, where it produces most of its iPhones for global distribution, and focus on other emerging markets in Asia, such as India.
The bitten apple brand began manufacturing its iPhone smartphones in the Asian country in 2017 and subsequently expanded its influence with the opening of its first brick-and-mortar stores in Bombay and New Delhi, both in 2023.
Although the high price of most of its products keeps Apple out of the top five phone companies in the country, Apple dominates the “luxury” sector with a 60% market share by 2022, according to the International Corporation of Data (IDC). .