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 is set to acquire a 60 per cent majority stake in Taiwanese contract manufacturer Pegatron's iPhone plant in Tamil Nadu, forming a new joint venture (JV), Reuters reported citing two sources.

For India's Tata, the Chennai Pegatron plant will bolster its iPhone manufacturing ... It is also building another in Hosur in Tamil Nadu, where it also has an iPhone component plant which was involved in a fire incident in September.

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 Group to Acquire Stake in Apple Partner Pegatron's India Business - Tata Group is set to acquire the India operations of Apples manufacturing partner Pegatron, nearly

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

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

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

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,