The Competition Commission of India (CCI) has approved Tata Electronics’ (TEPL) proposal to acquire a majority stake in Pegatron Technology, a Taiwanese contract manufacturer and Apple iPhone supplier.
TEPL is a wholly-owned subsidiary of Tata Sons. TEPL have expertise in manufacturing high-precision components for large customers. TEPL will acquire the majority shareholding of Pegatron India in two tranches, CCI said in a release.
TEPL, through Tata Electronics Systems Solutions (formerly known as Wistron Infocomm Manufacturing), is also engaged in the provision of electronics manufacturing services (EMS) for smartphones.
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In November last year, it was reported that Tata Electronics is looking to acquire a 60% stake in Pegatron India, a subsidiary of Pegatron Corporation. Pegatron India provides EMS for smartphones like those of Apple and exports its products to North America, Asia, and Europe. Its sole Indian plant is located in Chennai, employing nearly 10,000 workers and producing an estimated five million iPhones annually.
In October 2023, Tata Electronics also acquired Taiwanese contract manufacturer Wistron InfoComm for $131 million (over ₹1,000 crore), becoming the first Indian company to manufacture iPhones for both domestic and global markets.
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