Tata Electronics has acquired a controlling stake of 60% in Pegatron’s unit in India, less than a year after acquiring Wistron’s local business as the salt-to-software conglomerate expands its iPhone manufacturing capacity in the South Asian market.
Pegatron is a key assembly partner for Apple. The Taiwanese firm operates an iPhone production plant near Chennai in India’s sourther state of Tamil Nadu.
The companies didn’t reveal the financial terms of the deal, but Tata said the acquisition fits into its strategy of growing its manufacturing footprint in the world’s most populous nation.
“We look forward to a new era of AI, digital, and technology-led manufacturing as we bring up these new facilities and expand our operations in India,” Randhir Thakur, CEO & MD of Tata Electronics, said in a statement.
Tata, which began iPhone assembly in India just last year, is quickly emerging as one of Apple’s most important partners in Asia as the iPhone-maker works to expand its manufacturing base outside of China.
More to follow.