India’s Tata Electronics will acquire a majority stake in Taiwanese contract manufacturer Pegatron’s sole iPhone plant in India, which will form a joint venture that bolsters Tata as supplier to Apple (NASDAQ:AAPL),

NEW DELHI (Reuters) - India's Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron's only iPhone plant in India, forming a new joint venture that strengthens Tata's position as an Apple supplier, two sources told Reuters.

This strategic move follows Tata's acquisition of Wistron's plant in Karnataka Harshvardhan Jaiman Updated : Nov 18, 2024, 11:02 AM IST Tata Electronics is going to buy a majority stake in the iPhone manufacturing plant in Tamil Nadu from Pegatron and will set up a joint venture with Pegatron that will help Tata increase its share in the Apple supplier.

Reports earlier this year suggested that Pegatron had Apple’s backing for the transaction as the Taiwanese company scaled down its involvement with the tech giant.

Tata has even more ambitious plans on the horizon. Besides expanding in manufacturing, the group aims to dive into Apple’s retail business in India. Talks are in progress to launch around 100 small, e

In a significant move to strengthen its position as a major Apple supplier, Tata Electronics has agreed to acquire a majority stake in Pegatron's iPhone manufacturing plant in Chennai, Tamil Nadu

This deal will enhance Tata's iPhone manufacturing operations, as the company already operates a plant in Karnataka. Tata will hold a 60 percent stake in the joint venture.

India's Tata Electronics is reportedly buying a 60 percent stake in Taiwan-based Pegatron's only India iPhone facility, strengthening Tata's position as Apple's main supplier partner in the country.

The acquisition will result in a joint venture, in which Tata will own 60% and Pegatron will have 40% interest.