Indian holding company Tata Electronics is becoming a partner in Pegatron’s factory in order to strengthen its position as an Apple and iPhone supplier.Accordingly, the company announced that it has acquired a 60 per cent stake in the facility, which is its only business in India and assembles iPhones.
Tata Electronics acquires Pegatron’s iPhone plant
With the deal completed last week, Tata will take control of operations, while Pegatron will retain a 40 per cent stake and continue to provide technical support. Financial details of the purchase were not disclosed.
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The Pegatron plant in India employs around 10,000 people and has an annual production capacity of 5 million iPhones. This will be the third iPhone assembly line in India, along with Tata’s existing facilities and a factory under construction.
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‘This strategic partnership with Pegatron will strengthen Tata’s position as a leading manufacturer of Apple devices in India. This is in line with our goal of expanding our electronics manufacturing capacity to meet the growing demand for smartphones made in India.’
The acquisition comes as Apple continues to diversify its supply chain. Foxconn, the company’s largest partner, also manufactures iPhones in India. Analysts estimate that iPhones made in India will account for 20-25 per cent of global shipments this year. This rate was around 12-14 per cent last year.
