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Tata nears deal to buy Wistron's iPhone factory for Rs 5,000 crore

TCS dividend to fund Tata Sons investment in Apple stores, Wistron plant acquisition

Dev Chatterjee Mumbai

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2 min read Last Updated : Apr 18 2023 | 9:35 PM IST

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Tata Sons is all set to acquire Taiwanese firm Wistron's existing plant near Bengaluru for around Rs 5,000 crore, according to sources.

At the same time, the group is expediting investment worth Rs 6,300 crore in Tata Electronics’ plant in Hosur in Tamil Nadu. The plant is expected to start production of Apple products by the end of June.

Tata Sons Chairman N Chandrasekaran met Tim Cook, CEO of Apple, in Mumbai on Monday and discussed the group’s plans to make and sell Apple products in India. Apart from manufacturing Apple products, the Tata group is also looking at the possibility of selling the products by setting up 100 exclusive Apple outlets across India – learning from the experience of its electronic chain, Tata Croma.