Forbes India's daily tech news bulletin with five headlines that caught our attention
Tata Electronics has finalised a deal to buy a majority stake in a plant in Tamil Nadu from Apple contract manufacturer Taiwan’s Pegatron, which will advance Indian conglomerate Tata’s partnership with the iPhone maker, Forbes India reported on November 16.
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.
While the Tata Group has never officially confirmed it, Tata Electronics is widely reported to have previously purchased another iPhone assembly factory, not far from Bengaluru, from another Apple contractor, Wistron. The deal to buy Pegatron’s only factory in India will narrow Tata’s gap with Taiwan’s Foxconn, currently Apple’s biggest contract manufacturer in India.
Foxconn is already making Apple’s latest Pro models of the iPhones in India.
Tata Group is making a big push into hi-tech manufacturing in India, including setting up its own semiconductor chip foundry and fabrication and testing factories, striking partnerships with Taiwanese companies for the knowhow.