Tata Electronic To Buy 60% Stake In Pegatron's: Says Report

As per sources, India's Tata Electronic has said 'yes' to buy the majority stake in Taiwanese contract manufacturer Pegatron's iPhone plant, forming a joint venture and strengthening Tata's position as an Apple supplier in India.

Under the deal, Tata Electronics will hold 60% of the JV and run its daily operations, while Pegatron will maintain the remaining 40% and provide technical support, the sources added.

Furthermore, the financial details of the deal have not yet been made public.

However, Tata has said 'no' to comment, while Apple and Pegatron did not answer to the questioning.

As of now, Tata already has an iPhone manufacturing facility in southern Karnataka and is building another in Hosur, Tamil Nadu.

Now the question is whether the Tata-Pegatron plant, which employs approximately 10,000 people and produces 5 million iPhones each year, will be Tata's third iPhone production business in India.