Tata Group to open 100 exclusive Apple stores
- 100 Apple Stores will be opened by the Tata Group in India, and they will only sell Apple goods.
- Tata might think about forming a partnership with Wistron, the major Apple supplier in India.
- IPhones are also assembled in India by Foxconn and Pegatron in addition to Wistron.
According to the Economic Times newspaper on Monday, which cited two sources with knowledge of the situation, Indian conglomerate Tata Group-owned Infiniti Retail, which owns the Croma chain of stores, plans to open 100 locations around the nation that will only offer Apple products.
According to sources involved with the negotiations, it was previously reported that the group was in talks to purchase Wistron's sole manufacturing site in India for up to Rs. 5,000 crore. According to a report from sources close to Tata, if a deal to purchase the plant in the state of Karnataka in southern India cannot be reached, Tata may consider forming a joint venture with Taiwan's Wistron, one of Apple's top suppliers in India.
At least three of Apple's overseas partners currently work in India to assemble iPhones: Wistron in Karnataka, Foxconn in Tamil Nadu, and Pegatron in Chennai. Pegatron, a Taiwanese contract manufacturer for Apple, apparently began producing the new iPhone 14 in India early this month, according to rumours. In India, Foxconn and Pegatron both produce Apple's most recent iPhone 14, with Foxconn beginning production in September.
Tata Electronics already provides parts to Apple. Tata and Wistron were reportedly debating establishing a joint venture to manufacture iPhones in India, according to a September Bloomberg article.
Currently, at least three of Apple's foreign partners—Wistron in Karnataka, Foxconn in Tamil Nadu, and Pegatron in Chennai—assemble iPhones in India. Pegatron, a Taiwanese contract manufacturer for Apple, apparently began producing the new iPhone 14 in India early this month, according to rumours. In India, Foxconn and Pegatron both produce Apple's most recent iPhone 14, with Foxconn beginning production in September.
Apple, based in Cupertino, California, has placed a significant wager on India since it started assembling iPhones there in 2017 with Wistron and later with Foxconn, in keeping with the Indian government's goal for domestic manufacturing. Apple may build one in every four iPhones in India by 2025, according to J.P. Morgan analysts, as the tech giant transfers some of its production there in response to escalating geopolitical tensions and strict COVID-19 lockdowns