Tata Electronics has acquired a 60% controlling stake in the Indian arm of Apple assembly partner, Pegatron, as the conglomerate expands its iPhone manufacturing capacity in the country.
Taiwan-based Pegatron operates an iPhone production plant near Chennai in India’s sourthern state of Tamil Nadu. The deal comes less than a year after Tata Electronics acquired smartphone assembly company Wistron’s Indian business.
Pegatron and Tata did not disclose the financial terms of the deal, but Tata said the acquisition fits into its strategy of growing its manufacturing footprint in the country.
“We look forward to a new era of AI, digital and technology-led manufacturing as we bring up these new facilities and expand our operations in India,” Randhir Thakur, CEO & MD of Tata Electronics, said in a statement.
Tata, which began assembling iPhones in India just last year, is quickly emerging as one of Apple’s most important partners in Asia as the tech giant works to expand its manufacturing base outside of China.
More to follow.
