India’s 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, according to the South China Morning Post (SCMP).
The article says that under the deal announced internally last week, Tata will hold 60% and run daily operations under the joint venture, while Pegatron will hold the rest and provide technical support. Financials of the deal haven’t been disclosed.
The Tata Group is an Indian group of companies headquartered in Mumbai. It’s India’s largest business conglomerate, with products and services in over 160 countries, and operations in 100 countries.
