India's 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,

As Apple diversifies its supply chain beyond China, India is set to produce up to 25 per cent of the iPhones shipped this year.

"Apple's contract manufacturers currently have a monthly capacity of around 40 million iPhones, out of which 30-35 million units are made every month. With this deal done, the capacity is only going to increase as Apple looks to expand its supply chain outside of China amid geopolitical tensions,

India’s Tata Electronics will acquire a majority stake in Taiwanese contract manufacturer Pegatron’s sole iPhone plant in India, which will form a joint venture that bolsters Tata as supplier to Apple (NASDAQ:AAPL),

India's Tata Electronics is reportedly buying a 60 percent stake in Taiwan-based Pegatron's only India iPhone facility, strengthening Tata's position as Apple's main supplier partner in the country.

Tata Electronics has acquired a majority stake in Pegatron’s only iPhone manufacturing unit in India. This was announced internally last week.

Tata Electronics will acquire a majority stake in Pegatron's iPhone manufacturing plant in India. The deal will create a new joint venture, with Tata holding 60% and Pegatron holding 40%. This move strengthens Tata's position as an Apple supplier.