Tata Electronics has acquired a 60% controlling stake in Pegatron, the Indian arm of Apple Assembly Partner, as the conglomation expands iPhone manufacturing capacity in the country.
Taiwan-based Pegatron operates an iPhone production factory near Chennai in India's sour state of Tamil Nadu. The deal comes less than a year after Tata Electronics acquired the Indian operations of smartphone assembly company Wistron.
Pegatron and Tata did not disclose the financial terms of the deal, but Tata said the acquisition fits into its strategy to expand its manufacturing footprint in the country.
“We look forward to nurturing these new facilities, expanding our operations in India and a new era of AI, digital and technology-driven manufacturing,” Randhir Thakur, CEO & MD, Tata Electronics, said in a statement. .
Tata, which started assembling iPhones in India last year, is quickly emerging as one of Apple's most important partners as the tech giant works to expand its manufacturing footprint outside of China.
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