Tata acquires 60% stake in Apple-Partner Pegatron’s Indian unit

Less than a year Less than a year Less than a year Less than a year Less than a year Less than a year Less than a year Less than a year Tata Electronics acquires 60% of Pegatron’s Indian unit in India Less than a year Less than a year Less than a year Less than a year Less than a year Less than a year Less than a year Less than a year before.

Pegatron is a key assembly partner for Apple. The Taiwanese firm operates an iPhone manufacturer near Chennai in the Indian state of Tamil Nadu.

The companies did not disclose financial terms of the deal, but Tata said the acquisition was in line with its strategy to grow its manufacturing footprint in the world’s most populous nation.

“As we grow these new facilities and expand our operations in India, we look forward to a new era of AI, digital and technology leadership,” he said.

Tata launched the iPhone Assembly in India last yearIt is quickly emerging as one of Apple’s most important partners in Asia as it works to expand the iPhone-maker’s manufacturing base outside of China.

More to follow.