iPhone maker and Taiwanese electronics firm Wistron will shut down and withdraw business from India after 15 years, says a report by Hindu BusinessLine. However, Wistron’s only operations in India that are likely to remain are service businesses for the repair and maintenance of Apple products.
The Taiwanese firm is likely to approach the National Company Law Tribunal and the Registrar of Companies to wind up its operations in India within the next year, the report added citing sources.
The main iPhone assembler will wind down its business in India after Tata Electronics takes over the operation of the Karnataka factory and starts manufacturing new Apple products.
Wistron’s first Indian subsidiary was incorporated in 2008 in India as a sales and maintenance service center, “ICT Service Management Solutions (India) Private Limited,” the company’s annual report said.
To recall, the news agency Bloomberg reported earlier in January that the Tata Group is close to taking over a major factory in India. This could be a deal that would give India its first home-grown iPhone manufacturer. The report added that the Indian conglomerate intends to complete a due diligence process by March 31 so that its Tata Electronics arm can formally take over Wistron’s position in a program that gives it government incentives.
Currently, Apple iPhone models are assembled by Taiwanese manufacturing giants Foxconn Technology Group and Wistron.
Recently, Apple also started a new love affair with India by opening two official Apple Stores in the country – one in the financial capital Mumbai, followed by another in the national capital Delhi, almost twenty years after Asia got its first Apple Store. The tech giant has been trying to reduce manufacturing dependence on China and move to India since its biggest contract manufacturer and partner Foxconn saw unrest in China at its Zhengzhou factory last year.
Foxconn in China experienced major supply chain disruptions late last year due to the country’s zero-Covid policy.