Tata Electronics acquires 60% stake in Pegatron local arm for iPhone plant

Tata Electronics said on Friday it has bought a 60% stake in Taiwanese contract manufacturer Pegatron’s India unit that operates an iPhone plant, beefing up the Tata group firm’s position as an Apple supplier in a fast growing market.

The stake acquisition in Pegatron Technology India is for Apple Inc’s iPhone plant near the southern city of Chennai, a source familiar with the matter told Reuters. Tata Electronics and Pegatron did not immediately respond to Reuters’ requests for comment.