Tata Electronics acquires 60% stake in Pegatron India to boost local iPhone production

In a fillip to the government's 'Make successful India' initiative, Tata Electronics connected Friday acquired a controlling 60 per cent involvement successful Pegatron Technology India, which produces Apple products similar iPhones.

The acquisition boosts the company's presumption arsenic a large subordinate successful India's electronics manufacturing industry.

This follows Tata Electronics' acquisition of Taiwanese electronics shaper Wistron's India operations (based successful Narsapura, Karnataka) for $125 cardinal little than a twelvemonth ago, furthering Tata Sons' Chairman N Chandrasekaran's imaginativeness of important investments by the Tata Group successful electronics manufacturing.

Both Tata Electronics and Pegatron would integrate their teams, with Pegatron undergoing a rebranding arsenic portion of the collaboration arsenic the portion of the deal.

“The acquisition of a bulk involvement successful Pegatron Technology India Private Limited fits into Tata Electronics' strategy of increasing our manufacturing footprint,” said Dr Randhir Thakur, CEO and MD of Tata Electronics.

We look guardant to a caller epoch of AI, digital, and technology-led manufacturing arsenic we bring up these caller facilities and grow our operations successful India, helium added.

Pegatron's India works has astir 10,000 employees, and the institution manufactures iPhone 13 and 14 devices.

Earlier this month, Tata Electronics received support from the Competition Commission of India (CCI) to proceed with the involvement acquisition. This determination is portion of Tata Electronics' strategy to turn its beingness successful Apple's iPhone accumulation web successful the country.

As portion of the deal, Pegatron India volition acquisition rebranding to bespeak its caller ownership operation and concern absorption portion continuing to present high-quality electronics manufacturing services.
Established successful 2020 arsenic a greenfield task of the Tata Group, Tata Electronics presently employs implicit 50,000 radical and has important operations successful Gujarat, Assam, Tamil Nadu and Karnataka.
The iPhone declaration manufacturers successful India present see Foxconn, Tata and Pegatron.

Riding connected the production-linked inducement (PLI) strategy and increasing premiumisation trend, Apple clocked Rs 1 lakh crore successful iPhone exports from India successful the calendar twelvemonth 2024.

According to aboriginal manufacture estimates, Apple exported much than $12 cardinal worthy iPhones past year, which is much than 40 per cent maturation from 2023.

Apple's home accumulation has surged astir 46 per cent from a twelvemonth ago, arsenic per estimates.

The Apple ecosystem has besides created 1,75,000 caller nonstop jobs successful 4 years with "over 72 per cent women”.