Tata Electronics buys 60% stake in Pegatron India for Apple iPhone factory

On Friday, Tata Electronics announced that it has acquired a 60% stake in Pegatron’s Indian subsidiary, which manages an iPhone manufacturing facility, enhancing Tata’s role as an Apple supplier in the rapidly expanding Indian market. According to a Reuters‘ source familiar with the details, the stake in Pegatron Technology India pertains to the iPhone plant located near Chennai in southern India.
Reuters:
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Tata Electronics did not reveal financial terms of the deal.
The company will now have two plants in the southern state of Tamil Nadu and one in neighboring Karnataka, which it took over from Taiwan’s Wistron last year.
Apple is increasingly looking to diversify its supply chain beyond China amid geopolitical tensions between Beijing and Washington.
Tata, one of the largest conglomerates in India, has been expanding into iPhone manufacturing, rivaling Foxconn (2317.TW), opens new tab, the only other iPhone contract manufacturer operating in India.

MacDailyNews Take: The more production and assembly that Apple does outside of CCP-controlled China, the better.
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MacDailyNews Note: Last April, Reuters reported that Pegatron, looking to scale back of its Apple partnership, was in advanced talks to sell control of its only iPhone manufacturing facility in India to Tata.

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