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 Electronics is set to acquire a majority stake in Pegatron’s iPhone manufacturing plant in Tamil Nadu, marking a significant expansion of Tata’s role as an Apple supplier. Under the terms of the agreement,

Tata Electronics and Taiwanese electronics manufacturer Pegatron Corporation have, reportedly, reached an agreement under which the Tata Group company

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.

Under the agreement, Tata will hold a 60% stake in the plant and oversee daily operations, while Pegatron will retain the remaining 40% and provide technical support.

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.

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.

In a significant move to strengthen its position as a major Apple supplier, Tata Electronics has agreed to acquire a majority stake in Pegatron's iPhone manufacturing plant in Chennai, Tamil Nadu

Tata Electronics has acquired a majority stake in Pegatron's only iPhone manufacturing facility in Tamil Nadu. The move makes Tata a major supplier for Apple. The deal was announced internally last week,

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