Gearing up for a bigger slice of iPhone exports, Tata Electronics takes 60% control of Pegatron India, boosting its iPhone production share to 44% and expanding its workforce.
Tata Electronics has acquired a controlling 60% stake in Pegatron Technology India Private Limited, a subsidiary of Taiwan’s Pegatron Corporation, as the company announced on Friday. The acquisition centres around Pegatron’s iPhone plant located near Chennai.
This purchase follows Tata Electronics’ earlier acquisition of a Wistron facility in Narsapura, Karnataka, in March 2024, which also produced iPhones and narrowed Tata Electronics’ production value gap with Foxconn, the leading assembler of Apple iPhones in India.
According to vendor data for the calendar year 2024, iPhone assembly in India had a total production value of approximately ₹1.5 trillion. Foxconn accounted for ₹840 billion (56%), Tata Electronics contributed ₹400 billion (26%), and Pegatron’s share was the remainder.
With the latest acquisition, Tata Electronics’ share of the iPhone production value in India is expected to rise to 44%, according to a report by the Business Standard. Furthermore, this deal will increase Tata Electronics’ workforce by 17,000 direct employees from Pegatron, bringing its total headcount to 48,000.
As a result, the company is poised to capture a larger share of iPhone exports from India, expected to increase from 29% in 2024 to 48% following the integration of Pegatron’s 19% share.
Randhir Thakur, CEO of Tata Electronics, commented that the acquisition aligns with the company’s strategy to expand its manufacturing footprint, particularly in AI and technology-driven manufacturing.
Meanwhile, Tata Electronics is also investing in a new iPhone plant in Hosur, Tamil Nadu, set to begin operations later this year. As part of the deal, Tata Electronics will integrate its teams with Pegatron’s, rebranding the facility while maintaining high-quality standards in electronics manufacturing.
