The Indian company Tata Electronics, part of the Tata Group conglomerate, acquired a controlling stake in the production of iPhone in India, in the conditions of the Taiwanese company Pegatron.
Once the deal is approved and concluded, a joint venture will be created. Tata Electronics will have a 60% stake in the new company and will manage the plant, while Pegatron will have the remaining stake and provide medical support.
Financial details of the deal were not disclosed.
For Tata, the purchase included a partnership with Apple in India. The company is already engaged in the production of components for the iPhone and has now become a well-known smartphone assembly plant.
According to analysts, India will account for 20-25% of total iPhone shipments in 2024. [South China Morning Post]
Source: Iphones RU
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