Tech giant Apple is currently in advanced talks with Murugappa Group and Titan Company to assemble and manufacture sub-components for iPhone camera modules, according to a report by the Economic Times, quoting people aware of the matter.
Presently, Apple does not have Indian suppliers for the camera module embedded in their IPhones. “Partnering either with Titan or Murugappa Group could address this issue. In a timeframe of five to six months, they (Apple) will have finalised which is the (partner) to bet on,” said one of the people in the report.
Moneycontrol couldn't independently verify the report.
The camera module is a critical component that is currently one of the “biggest challenges for Apple in India,” another person said.
Titan specialises in precision components manufacturing for its watches and jewellery whereas Murugappa group has presence in several segments including abrasives, auto components, nutraceuticals, and more.
“Starting with module assembly is a good foundation to attract different sub-assembly manufacturers and build the complete local value chain — from image sensor to lenses and the entire camera module,” said one person with knowledge of the matter.
Murugappa Group's advantage
Chennai headquartered Murugappa Group acquired 76 percent stake in Noida-based camera module maker Moshine Electronics in 2022.
"Murugappa Group, in particular, with its acquisition of Moshine Electronics, has an advantage. In future, with a potential fab, it could manufacture the image sensor,” said the person quoted above who also said the group could be an end-to-end player or partner in Apple’s India value chain."
Similarly, Tata group (of which Titan is a group company) could also go from assembly for camera module and sub-components to eventual manufacturing in the fab, the person added.
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