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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, sources told.
Under the deal announced internally last week, Tata will hold 60% and run daily operations under the joint venture, while Pegatron will hold the rest and provide technical support, said the sources, who declined to be named as the details are not yet public.
Tata declined to comment, while Apple and Pegatron did not respond to the queries on Sunday.
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