Feb 03, 2017 Market Comments Off on Wistron to produce iPhones in India: report
Taipei-- Taiwan-based contract electronics maker Wistron Corp. (??) will set up a plant in India to roll out iPhones for Apple Inc., the Times of India said Friday.
The report added that Wistron is planning to build a plant near the Peenya industrial hub located in Bangalore in Karnataka state.
The report said the Karnataka government has issued a statement welcoming Apple's proposal to make iPhones there.
According to the report, Wistron's new plant is expected to kick off mass production in June.
If the report is true, Wistron will become the third Taiwanese firm to assemble iPhones for Apple after Hon Hai Precision Industry Co. (??) and Pegatron Corp. (??).
Hon Hai is believed to be assembling all of the larger iPhone 7 Plus units for Apple and 60 percent of the smaller iPhone 7 orders, while Pegatron is churning out the other 40 percent of the smaller iPhone 7s.
It is unclear what iPhone model Wistron will assemble, but the speculation that Wistron will be part of Apple's supply chain has circulated in Taiwan's stock market and boosted Wistron's share price, which closed up 2.28 percent on Friday at NT$26.90 (US$0.86).
In the same trading session, Hon Hai lost 0.48 percent to close at NT$83.70 amid fears that Wistron's presence will cut into Apple's orders placed with Hon Hai. Pegatron, meanwhile, rose 0.13 percent to end at NT$76.10.
International business wire services said Wistron has applied for approval to increase its investment in Bangalore and hoped authorities there will speed up the pace of processing its application.
Karnataka State IT minister Priyank Kharge noted on his Facebook page that production of iPhones in the state is expected to facilitate the development of a high-tech ecosystem and the establishment of a supply chain there.
Source: Focus Taiwan News Channel
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