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,

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,

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.

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

Tata Electronics secures 60% stake in Pegatrons iPhone plant in Tamil Nadu, enhancing its role as an Apple supplier amid supply chain diversification.

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

Under the agreement, Tata will hold a 60% stake in the plant and oversee daily operations, while Pegatron will retain the remaining 40% and provide technical support.

Tata strengthens iPhone making operations with Pegatron deal Tata seals 60-40 JV with Pegatron for iPhone plant, sources say Apple sees India as a key market, diversifying beyond China NEW DELHI, - India's Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron's only iPhone plant in India,

The Chennai plant, which employs around 10,000 workers and manufactures over 5 million iPhones annually, will become Tata’s third iPhone facility in India.

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