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.

NEW DELHI (Reuters) -India's Tata Electronics has agreed to buy a majority stake in ... 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 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,

Tata Electronics continues to strengthen its smartphone manufacturing business in India as it has reportedly sealed a deal to acquire a majority stake in Taiwanese contract manufacturer Pegatron iPhone plant 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.

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),