Tata became one of the iPhone assemblers in India after Wistron sold its Indian assets. India's smartphone market have seen shifts in recent quarters due to 5G and premiumization.
Tata acquired 100% stake in Wistron Indian subsidiary
Tata Group acquired 100% of Wistron Infocomm Manufacturing (India) and entered into a legally binding share purchase agreement with Wistron's two subsidiaries, SMS InfoComm (Singapore) and Wistron Hong Kong), a deal that made Tata become an iPhone assembler.
Kaynes Technology ventures into OSAT business
Kaynes Technology formed a subsidiary Kaynes Semicon for OSAT business and announced an investment of INR28.5 billion (US$340 million) in Hyderabad, Telangana The groundbreaking ceremony was held earlier for this facility, featuring 13 lines for OSAT, along with one each for ATE and reliability testing.
India smartphone market concentration declines
According to IDC's market tracker, the combined market share of the top five smartphone vendors dropped from over 90% in the second quarter of 2020 to under 70% in the first three quarters of 2023, with Apple as an emerging competitor to the established vendors.
5G smartphone penetration in India surpasses 50%
According to CMR's report, in the third quarter of 2023, the share of 5G smartphone shipments in India surged to 57%, reflecting an impressive year-over-year growth of 78%. In this segment, Samsung claimed the top position with a 23% market share, closely trailed by Vivo with 16%.
India reportedly to fast-track approving Tesla investment plan
The Economic Times quoted sources saying that the Prime Minister's Office of India held a meeting with top officials to discuss how to promote EV manufacturing in India, and they also talked about the matter of fast-tracking approvals for Tesla's proposed investment plan by January 2024.
India expected to double PV production capacity by 2025
An ICRA report predicted India's PV cell production capacity may increase from 6GW a year to 25GW by 2025, and PV module capacity would rise from 37GW to 60GW in the same period.