Tata Group is reportedly close to sealing a major deal with Pegatron, a Taiwanese firm, to acquire a majority stake in its iPhone manufacturing operations in India.

Previous reports of Reuters hinted at discussions between the two companies, suggesting a possible collaboration, which Pegatron denied at the time.

However, a recent Bloomberg The report reveals that negotiations between the Tata Group and Pegatron are now in the final stages, with an agreement expected by May. This deal would strengthen Apple's relationship with the Tata Group.

It involves the Tata Group taking control of Pegatron's Apple device assembly operations, including an existing production plant near Chennai and another under construction.

Upon completion of the deal, Tata Electronics will oversee Pegatron's operations, leveraging the Taiwanese company's manufacturing expertise. The move aligns with Apple's efforts to increase production in India, supported by government incentives to attract foreign investment and boost domestic production.

Pegatron started operations in India in 2021 with an investment of Rs. 1,100 crore near Chennai, under the Production Linked Incentive (PLI) scheme. The facility has been assembling flagship iPhones like the iPhone 13 and iPhone 14 since September last year, similar to Foxconn's operations.

The current administration has offered production-related subsidies to key Apple suppliers such as Pegatron, encouraging them to expand their presence in India. Tata Group initially entered iPhone assembly by acquiring a factory from Taiwan's Wistron Corp. in Karnataka.

In addition, Tata plans to build a new iPhone production plant, emphasizing its commitment to its partnership with Apple and its presence in the manufacture of smartphones.

See also  Infinix GT BOOK with 16″ FHD 120Hz Display, up to 13th Gen Intel Core i9 CPU and NVIDIA RTX 4060 GPU Launched in India


For the Latest Jobs And Information Visit: Mksjobs.Com

Aslo Read: wpstuffy.com

Mobile Updates: Queenmobile.tech

Daily Update: Update24.live