From Investing.com: 2024-11-17 02:45:34

India’s Tata Electronics to buy majority stake in Pegatron’s iPhone plant in India, forming a joint venture. Tata will hold 60% with Pegatron providing technical support. Financial details undisclosed. Apple and Pegatron yet to comment. Apple diversifying supply chain beyond China. Tata expanding iPhone manufacturing, rivaling Foxconn in India.

Deal closure announced internally at iPhone plant. Companies plan to seek approval from Competition Commission of India. Tata already operates iPhone assembly plant in Karnataka and building another in Tamil Nadu. India expected to contribute 20-25% of total iPhone shipments this year. Tata-Pegatron plant employs 10,000 and produces 5 million iPhones annually.



Read more at Investing.com: Tata seals deal with Pegatron for iPhone plant in India’s Tamil Nadu, sources say By Reuters