By Li Panpan
(JW Insights) May 8 -- Apple supplier Wistron will withdraw from India after doing business there for more than fifteen years, said a Hindu Business Line report on May 1.
It was reported earlier that the Taiwanese electronics company also shut down its plant in Taizhou, eastern China’s Shandong Province in late April because it lost money year after year.
According to its 2022 financial report, Wistron invested a total of NT$4.929 billion ($160.78 million) into the Taizhou plant, its second-largest investment project in the Chinese mainland.
Wistron may apply to the National Company Law Tribunal of India and the Registrar of Companies to dissolve its Indian business within 2024.
Wistron has frequently encountered disputes in India due to problems such as worker disturbances, underpayment of wages, and medical malpractice, said a Hindu Business Line report before.
Its first India subsidiary was incorporated in 2008 as a sales and maintenance service center.
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