Tata Seals Deal With Pegatron For iPhone Plant In Tamil Nadu: Report

Under the deal announced internally last week, Tata will hold 60% and run daily operations under the joint venture, the report said.

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, two sources told Reuters.

Under the deal announced internally last week, Tata will hold 60% and run daily operations under the joint venture, while Pegatron will hold the rest and provide technical support, said the two sources, who declined to be named as the details are not yet public.

The sources did not elaborate on the financials of the deal.