Last year, we reported that Tata Electronics had finalized buying a majority stake in Pegatron Technology India, thereby gaining control over the company’s iPhone plant in Chennai.
Tata Group Takes Over Pegatron’s Chennai Plant
Today, the Indian conglomerate confirmed acquiring a 60% stake in the Taiwanese contract manufacturer’s Indian wing. The deal makes Tata Electronics one of the key manufacturers for the Cupertino-based iPhone maker in Asia.A
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The Indian Conglomerate Gets Closer To Apple’s Production Target
Now that the acquisition is official, Tata Group owns three iPhone manufacturing plants in the subcontinent: two in Tamil Nadu and one in Karnataka. With the latest acquisition (financial details remain undisclosed), Tata is one step closer to producing 50 million iPhones annually in the country. By increasing its production capacity, Tata Group will not only cater to the domestic but also the international demand for Apple’s handsets.
Pegatron Technology India is currently undergoing a rebranding that reflects the current ownership state. Both companies are working on a smooth transition, and there are no reported layoffs at the moment. Previous reports also stated that Tata wants to manage 100 exclusive Apple stores across the country. However, there are no updates on this.
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