iPhone Maker Wistron To Shut Down After Tata Electronics Takeover Report
The Taiwanese electronics manufacturer Wistron will end its operations in India after more than fifteen years in the country after Tata Electronics takes over the operation.
Within the next year, the company plans to largely withdraw from India and is expected to seek dissolution of its India operations through the National Company Law Tribunal and the Registrar of Companies, The Hindu Business Line reported this week.
An earlier report stated that Tata Electronics would purchase Wistron’s iPhone manufacturing facilities in Karnataka, India, last month. The majority of Wistron’s operations in the nation are located in these facilities.
The Indian companies “Wistron InfoComm Manufacturing (India) Private Limited” and “Smartiply India Private Limited,” respectively, will be dissolved.
These companies specialize in IoT product and platform development. Wistron’s services division for repairing and maintaining Apple equipment is likely to be the only activity left in India.
Over 12,000 people are employed by Wistron in India, the vast majority of whom work in the business unit being purchased by the Tata conglomerate. As soon as the iPhone factory transfer is finalized, the shutdown procedure will begin.
Before beginning the winding down process, Wistron is also waiting for some additional subsidy payments under the mobile PLI scheme.