The acquisition will result in a joint venture, in which Tata will own 60% and Pegatron will have 40% interest.

This move strenthen Tata group's position as a key player in Apple's supply chain, expanding from salt and steel production to high-tech electronics manufacturing.

India’s Tata Electronics will acquire a majority stake in Taiwanese contract manufacturer Pegatron’s sole iPhone plant in India, which will form a joint venture that bolsters Tata as supplier to Apple (NASDAQ:AAPL),

Tata Electronics will now own a 60 percent stake with Pegatron holding the balance in a joint venture operating the facility, near Chennai. Economic Times, which reported the news earlier today, puts the value of the deal at $150-200 million, citing sources.

NEW DELHI — India's Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron's only iPhone plant in India, forming a new joint venture that strengthens Tata's position as an Apple supplier,

As Apple diversifies its supply chain beyond China, India is set to produce up to 25 per cent of the iPhones shipped this year.

Tata Electronics secures 60% stake in Pegatrons iPhone plant in Tamil Nadu, enhancing its role as an Apple supplier amid supply chain diversification.

The Chennai plant, which employs around 10,000 workers and manufactures over 5 million iPhones annually, will become Tata’s third iPhone facility in India.

Tata Electronics continues to strengthen its smartphone manufacturing business in India as it has reportedly sealed a deal to acquire a majority stake in Taiwanese contract manufacturer Pegatron iPhone plant in India.

India's Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron's only iPhone plant in India, forming a new joint venture that strengthens Tata's position as an Apple supplier,