Tata Electronics has reached an agreement to acquire a majority stake in Pegatron’s sole iPhone manufacturing facility in India, establishing a new joint venture that bolsters Tata’s role as an Apple supplier.
Under the terms of the deal, Tata will own 60% of the joint venture and will oversee day-to-day operations, according to a Reuters report. Pegatron will retain the remaining stake and continue to provide technical support. The details of the agreement have not been publicly disclosed, the report added.
