Will This Key iPhone Maker's Exit Be A Setback For Apple's Grand India Plans?

After more than fifteen years of doing business in India, Wistron, the Taiwanese electronics company that’s made a name as a prominent manufacturer of Apple products, will wind down its operations soon.

What Happened? According to a report by The Hindu Businessline, the company will mostly withdraw from India and approach the National Company Law Tribunal and the Registrar of Companies to dissolve its India operations within the next year.

It is worth noting that Tata Electronics had previously announced that it would take over Wistron’s iPhone manufacturing facilities in Karnataka, which make up the largest portion of its overall business in India. The new owners will also employ most of Winstron’s 12,000 employees registered in the country.

Wistron incorporated its first India subsidiary in the country in 2008 as a sales and maintenance service centre, “ICT Service Management Solutions (India) Private Limited,” according to the company’s annual report.

See also: 3 In 5 Premium Phones Sold In India In 2023 Are iPhones, Says Counterpoint

According to the company’s 2021 annual report, it constituted "Wistron InfoComm Manufacturing (India) Private Limited" in 2018, under which it bagged the Apple contract, and "Smartiply India Private Limited" in 2020 for product and platform development for IoT. However, the company will dissolve both of these subsidiaries as it pulls out of India.

Businessline’s sources have stated that the only operations that will remain in India are Wistron’s services business for repairing and maintaining Apple products.

Read next: India’s Smartphone Shipments See Sharp Decline As Demand Plummets In First Three Months Of 2023

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: TechiPhoneTata ElectronicsWistron