Tech large Apple is in superior discussions with Indian conglomerates Murugappa Group and Titan to assemble and produce sub-components for the digicam modules utilized in iPhones, The Financial Occasions reported on April 16.
If a deal is struck, it is going to mark a gradual shift in Apple’s operations from China to India, the report additional added.
Titan shares closed down 0.50 per cent at ₹3,601.55 on April 15, on the Bombay Inventory Trade (BSE).
Apple doesn’t have any Indian suppliers for the crucial digicam module part in its smartphones. Partnering with both Titan or Murugappa Group might assist handle this hole. A deal is prone to be finalised throughout the subsequent 5 to 6 months, in line with a supply quoted by the ET.
“Murugappa Group, particularly, with its acquisition of Moshine Electronics, has a bonus. Sooner or later, with a possible fab, it might manufacture the picture sensor,” one individual with information of the discussions stated.
Livemint couldn’t independently confirm this information growth.
The digicam module is taken into account a significant problem for Apple in India, as it’s a essential part the corporate has struggled to supply regionally.
Titan, a Tata Group firm, specialises in precision manufacturing for watches and jewellry, whereas the diversified Murugappa Group has a presence throughout sectors spanning auto components and abrasives. The latter’s 2022 acquisition of Noida-based digicam module maker Moshine Electronics is seen offering a strategic benefit, as per the report.
Equally, the Tata conglomerate, of which Titan is part, might additionally progress from assembling digicam modules and sub-components to finally establishing devoted manufacturing services, the report added.
Localising digicam module manufacturing would function a robust basis for Apple to construct a extra complete provide chain in India, serving to the corporate handle this key problem in its native operations, the report stated.
Apple, Murugappa Group and Titan haven’t formally confirmed the reported negotiations. Mint was unable to independently confirm the main points offered by the sources quoted within the unique report.
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Revealed: 16 Apr 2024, 09:11 AM IST
Supply: Live Mint