The agreement sees Tata owning 60 percent of the company and running day-to-day operations, while Pegatron retains the 40 percent stake and will continue to provide technical support. The move comes after Tata acquired Wistron's plant in Karnataka and built another in Hosur. Apple is diversifying production away from China as geopolitical tensions continue, and this acquisition is part of that strategy. Apple is expanding as part of that plan, with plans for more retail stores and a target of 25 percent of total iPhone production in India by 2023. It also gives Tata a higher profile in the Apple supply chain and adds another mark to India’s increasing stature as a global technology manufacturing hub.

Source: dna November 18, 2024 07:03 UTC