07:12 AM EST, 11/18/2024 (MT Newswires) -- Apple ( AAPL ) partner Pegatron has agreed to sell a majority stake in its only iPhone plant in India to Tata Electronics, Reuters reported Sunday, citing unnamed sources.

Tata will hold 60% of the plant and run daily operations under the proposed joint venture, while Pegatron will hold the remaining stake and provide technical support, the report said.

Financial details of the deal were not reported.

Apple ( AAPL ) and Tata did not immediately respond to MT Newswires' requests for comment. Attempts to reach Pegatron were not immediately successful.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)