Tata Electronics to acquire 60 per cent stake in Pegatron’s iPhone plant in India

Tata Electronics Pvt Ltd (TEPL) is reportedly buying a majority stake in Taiwanese contract manufacturer Pegatron’s iPhone plant in India, strengthening its position as an Apple supplier.

TEPL will hold 60 per cent in the joint venture and take care of the plant’s daily operations. Pegatron will hold the rest and provide technical support, according to Reuters. The deal was announced internally last week.