Tata Group to acquire Wistron iPhone factory in India; Becomes 1st Indian brand to make iPhones

Tata Group, India's largest conglomerate, is close to an agreement to acquire an Apple Inc. supplier's factory in southern Karnataka state. The deal, potentially valued at more than $600 million, would mark the first time a local company would move into the assembly of iPhones. The acquisition would boost India's efforts to become a major hub for electronics manufacturing and reduce its reliance on China.