Indian conglomerate Tata Group, which produces everything from salt to software, is reportedly in talks with Taiwan’s Wistron Corporation to establish an electronics manufacturing joint venture in India with the goal of assembling iPhones there.
What Happened: The discussions with Wistron Corp are intended at making Tata a force in technology manufacturing, and the group wants to leverage the Taiwanese company’s expertise in product development, supply chain and assembly, Bloomberg reported citing sources.
The plan could involve Tata buying equity in Wistron’s India operations or the companies could build a new assembly plant, reported Bloomberg, citing sources. The report also said that it wasn’t immediately clear if Apple Inc. AAPL was aware of the talks.
The news comes at a time when Apple is aiming to diversify its production away from China and deepen its supply chain in India, it said.
Why It Matters: An Indian group building iPhones would be a huge boost for the country’s manufacturing sector as it would help in attracting more business from similar companies that are looking to reduce their dependence on China.
The Tata Group, Wistron Corp. and Apple did not immediately respond to an email seeking comments.
Image and article originally from www.benzinga.com. Read the original article here.