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,

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 — 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,

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.

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

Tata Electronics has reportedly agreed to acquire a majority stake in Pegatron's iPhone manufacturing facility in India. This move is part of Apple's suppliers' efforts to prepare for potential changes in the global supply chain following Donald Trump's win in the US presidential election.

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

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