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.

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,

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.

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 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,

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.

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,