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Tata Electronics Acquires 60% Stake in Pegatron's Tamil Nadu iPhone Plant, Employing 10,000 Workers and Producing 5 Million iPhones Annually

Nov 17, 2024, 08:28 AM

Tata Electronics has finalized a deal to acquire a 60% stake in Pegatron's iPhone manufacturing facility located in Tamil Nadu, India. This acquisition marks Tata's third iPhone factory in the country and is expected to enhance its role as a key supplier for Apple. The plant, which employs approximately 10,000 workers, has an annual production capacity of 5 million iPhones. The deal comes amid India's growing semiconductor ambitions, with Foxconn also planning to establish an assembly line for semiconductor components in Chennai. In recent years, Apple has significantly increased its iPhone exports from India, rising from $1.2 billion in FY22 to an expected $10 billion in FY24.