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),

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,

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.

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.

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

Last year, Tata Group had acquired Taiwan’s Wistron plant in Karnataka, and the company is also building another plant in Hosur in Tamil Nadu. For Tata, the Chennai Pegatron plant will bolster its iPhone manufacturing plans.

As Apple diversifies its supply chain beyond China, India is set to produce up to 25 per cent of the iPhones shipped this year.

Tata Electronics has acquired a majority stake in Pegatron’s only iPhone manufacturing unit in India. This was announced internally last week.

Tata Electronics will acquire a majority stake in Pegatron's iPhone manufacturing plant in India. The deal will create a new joint venture, with Tata holding 60% and Pegatron holding 40%. This move strengthens Tata's position as an Apple supplier.