The Indian company Tata Group buys the Wistron plant in India, which produces iPhones, writes Bloomberg.
Negotiations between the companies have been going on for several months. The purchase is scheduled for the end of March.
After the closure, a complex venture between Tata Group and Wistron will be created, which will control the shareholding in the Indian company. Tata Group will oversee key manufacturing operations with support from Wistron.
The amount is not disclosed. According to scientists, Wistron in India could cost more than $600 million. The plant employs 10,000 people, including 2 engineers. It has eight prefabricated iPhone production games.
Earlier, Tata Group said it plans to open more than 100 Apple Stores in India. The first one ended up in Mumbai this quarter. [Bloomberg]
Source: Iphones RU
