Tata Group reportedly buying Pegatron's only iPhone plant in India
By MYBRANDBOOK
Pegatron is reportedly in talks to hand over its only iPhone manufacturing facility in India to the Tata Group. If the deal goes through, Tata will be seen holding at least a 65% stake in a joint venture that will operate the Pegatron plant near Chennai, while the Taiwanese firm will continue to provide technical support and hold the rest. It is reported that the deal is backed by Apple.
Tata will reportedly operate the joint venture through its Tata Electronics unit.
Almost 10,000 employees work in the Pegatron plant and it produces five million iPhones annually. It is the last such facility operated by the firm after it forfeited control of an iPhone plant in China last year to rival Luxshare in a $290 million deal.
With this Apple is continuously trying to diversify its supply chain outside China amid geopolitical tensions between Beijing and Washington. The iPhone manufacturing plans of Tata will get bolstered with the Chennai Pegatron plant.
Tata already operates an iPhone assembly plant in the neighbouring southern state of Karnataka, which it took over from Taiwan's Wistron last year, and is also building another in Hosur in Tamil Nadu, where Pegatron is likely to emerge as its joint venture partner.
According to a source, for last few months Pegatron is building another iPhone factory at its Chennai campus and the anticipated deal also includes taking over that facility.
The talks between Tata and Pegatron for the factory are expected to close in six months and will see all of the Pegatron India employees move to the joint venture entity. Apple's iPhone contract manufacturers in India currently include Tata, Pegatron and Foxconn. Tata is key to Apple's growing ambitions in India, which analysts estimate will contribute 20-25% of total iPhone shipments this year, from 12-14% last year.
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Paytm brings UPI Lite Wallet for low-value transactions
Paytm’s parent company One97 Communications (OCL) is emphasizing upon UP...
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
INFOSYS TECHNOLOGIES PVT. LTD.
MICROMAX INFORMATICS LTD.
MATRIX COMSEC PVT. LTD.
WIPRO LTD.
Technology Icons Of India 2023: Bhavish Aggarwal
Ola CEO Bhavish Aggarwal had formed Ola-India’s largest mobility pla...
Technology Icons Of India 2023: B.V.R. Subrahmanyam
B.V.R. Subrahmanyam belongs to Andhra Pradesh. He is a 1987-batch IAS ...
Technology Icons Of India 2023: Harsh Jain
Harsh Jain is an Indian Entrepreneur, the co-founder and CEO of the In...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
Aadhaar: Architecting the World's Largest Biometric Identity System
The Unique Identification Authority of India (UIDAI) is a statutory au...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
SONATA INFORMATION TECHNOLOGY LIMITED
Sonata Software Limited is a leading Modernization engineering company...