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 deal will enhance Tata's iPhone manufacturing operations, as the company already operates a plant in Karnataka. Tata will hold a 60 percent stake in the joint venture.

Tata Electronics and Taiwanese electronics manufacturer Pegatron Corporation have, reportedly, reached an agreement under which the Tata Group company

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 Electronics will now own a 60 percent stake with Pegatron holding the balance in a joint venture operating the facility, near Chennai. Economic Times, which reported the news earlier today, puts the value of the deal at $150-200 million, citing sources.

Tata already operates an iPhone assembly plant in the southern state of Karnataka, which it took over from Taiwan's Wistron last year. It is also building another in Hosur in Tamil Nadu, where it also has an iPhone component plant which was involved in a ...

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

Tata Electronics has acquired a majority stake in Pegatron's only iPhone manufacturing facility in Tamil Nadu. The move makes Tata a major supplier for Apple. The deal was announced internally last week,

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.

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),