Tata Electronics on Friday said it has acquired a 60% stake in Pegatron Technology India, which manufactures Apple products at its plant near Chennai. Tata Electronics had earlier acquired the operations of Wistron India, also an Apple contract manufacturer, in March 2024.
The two acquisitions will help Tata to strengthen its foray into electronics manufacturing. The company will now have two plants in Tamil Nadu and Karnataka.
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“The acquisition of a majority stake in Pegatron Technology India fits into Tata Electronics’ strategy of growing our manufacturing footprint. We look forward to a new era of AI, digital and technology-led manufacturing as we bring up these new facilities and expand our operations in India,” said Randhir Thakur, CEO & MD of Tata Electronics.
As part of the deal, in addition to acquiring a majority stake in Pegatron Technology India, both Tata and Pegatron Technology India will integrate their teams to work seamlessly.
Tata Electronics said Pegatron Technology India will undergo rebranding to reflect its new ownership structure and business direction while continuing to deliver high-quality electronics manufacturing services.
Experts see the acquisition by Tata Electronics as a way to compete with the likes of Foxconn and Dixon in the country.
Apple’s iPhone exports touched around $7 billion (Rs 60,000 crore) in the first seven months of the current fiscal. This translates into an average of $1-billion exports per month, a feat achieved for the first time by any company, according to industry sources.
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In FY24, iPhone exports from India hit the $10-billion mark. In the current fiscal, it has reached 70% of last year’s exports within the first seven months.
Tata Electronics is also looking to invest Rs 91,000 crore to set up a semiconductor fab unit in Gujarat’s Dholera. The company is also investing Rs 27,000 crore to setup assembly testing marking and packaging (ATMP) unit in Jagiroad, Assam.
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