Pegatron in talks with Tata to sell its only iPhone plant in India

Marking Taiwanese Pegatron’s latest scale back of its Apple partnership, the company is in advanced talks to hand over control of its only iPhone manufacturing facility in India to the Tata Group, Reuters reports citing “two sources with direct knowledge.”
Munsif Vengattil and Aditya Kalra for Reuters:
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Under the deal, which has received the backing of Apple, Tata plans to hold at least a 65% stake in a joint venture that will operate the Pegatron plant near Chennai city in the southern Indian state of Tamil Nadu, with the Taiwanese firm providing technical support and holding the rest, one of the sources said.
Tata, one the largest conglomerates in India, will operate the joint venture through its Tata Electronics unit, the second source said.
The Pegatron India factory has around 10,000 employees and makes 5 million iPhones annually. It is the last such facility operated by the firm after it forfeited control of an iPhone plant in China last year to rival Luxshare in a $290 million deal.
Pegatron has for months also been building another iPhone factory at its Chennai campus, and the Tata deal talks include taking over that facility as well, the first source said.
The reasons for Pegatron’s gradual withdrawal from its Apple business, including in India, were not known. Last year, Pegatron said the China plant deal was done to raise capital to “optimise its business”.

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MacDailyNews Take: Aw, Pegatron, the (increasingly antiquated, circa 2010) memories:

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