Reports earlier this year suggested that Pegatron had Apple’s backing for the transaction as the Taiwanese company scaled down its involvement with the tech giant.

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),

NEW DELHI (Reuters) - 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, two sources told Reuters.

This deal will enhance Tata's iPhone manufacturing operations, as the company already operates a plant in Karnataka. Tata will hold a 60 percent stake in the joint venture.

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,

Tata group, which has been making swift inroads into the coveted and highly-sophisticated manufacturing ecosystem of Apple and has even started making the latest generation of iPh

Tata has even more ambitious plans on the horizon. Besides expanding in manufacturing, the group aims to dive into Apple’s retail business in India. Talks are in progress to launch around 100 small, e

India's Tata Electronics is reportedly buying a 60 percent stake in Taiwan-based Pegatron's only India iPhone facility, strengthening Tata's position as Apple's main supplier partner in the country.

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.

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