According to a report from Bloomberg, Wistron has committed to shipping iPhones worth at least $1.8 billion (roughly Rs. 14,800 crore) from the factory in the fiscal year through March 2024 to win state-backed financial incentives.

Tata Group Reportedly To Be India’s First Domestic iPhone Maker

In August, Tata Group is said to be finalizing the acquisition of a factory owned by an Apple supplier. The Wistron facility, located in Karnataka and valued at more than $600 million, will be taken over by Tata, making it the first domestic company to manufacture iPhones. Presently, the factory employs a workforce of over 10,000 individuals who are responsible for assembling the iPhone 14 model.

According to a Bloomberg report, Wistron has committed to ship iPhones worth at least $1.8 billion (about Rs 14,800 crore) from the factory in the fiscal year to March 2024 to receive government-backed financial incentives.

There are also plans to triple the factory’s workforce by next year. Tata plans to honor these commitments once Wistron exits the iPhone business in India, the report added.

The report also suggested that the addition of an Indian iPhone is likely to add momentum to Apple’s efforts to diversify its product base outside of China and build technology production in the South Asian nation.

Wistron exported nearly $500 million (about 4.100 trillion) iPhones from India in the three months ended June 30, and Apple’s other key Taiwanese suppliers, Foxconn Technology Group and Pegatron, have also grown locally.

In related news, Apple’s supplier Foxconn plans to separately apply for the establishment of a semiconductor manufacturing unit in India. The Taiwanese company said it is surveying the landscape to find optimal partners for the project.

“Foxconn is seeking to submit an application related to the Modified Program for Semiconductors and Display Fab Ecosystem. We have been actively exploring the landscape to find optimal partners,” Foxconn said in a statement. The new development comes after the company announced on Monday that it would exit the semiconductor joint venture with Vedanta.

By applying for a separate chip manufacturing unit in India, Foxconn plans to take advantage of the incentives provided by India under its semiconductor manufacturing policy.