Mon Nov 18 07:42:09 UTC 2024: ## Tata Electronics Takes Majority Stake in Pegatron’s Indian iPhone Plant
**NEW DELHI, November 18, 2024** – Indian conglomerate Tata Electronics is expanding its presence in the iPhone manufacturing sector, acquiring a 60% stake in Pegatron’s sole Indian iPhone plant in a new joint venture. This deal, announced internally last week, positions Tata as a major player in Apple’s growing diversification efforts away from China.
The joint venture will see Tata Electronics manage daily operations, while Pegatron retains a 40% stake and provides technical support. Financial details of the acquisition remain undisclosed. Both Tata and Pegatron confirmed the deal to Reuters after the story initially broke. Apple has not yet commented.
The Chennai-based plant, employing approximately 10,000 people and producing around 5 million iPhones annually, will become Tata’s third iPhone factory in India. This acquisition follows Tata’s takeover of Wistron’s iPhone assembly plant last year and the ongoing construction of a new facility in Hosur, Tamil Nadu.
This move underscores Apple’s strategy to reduce its reliance on Chinese manufacturing amid escalating US-China tensions. India’s burgeoning role in global iPhone production is further highlighted by analyst predictions that Indian shipments will account for 20-25% of Apple’s total this year, a significant increase from last year’s 12-14%. The Tata-Pegatron venture is expected to seek approval from the Competition Commission of India in the coming days.
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