Asia Tech Wire (June 19) -- Chinese smartphone maker vivo's Indian unit is in talks with India's Tata Group about acquiring a majority stake and setting up a joint venture, according to multiple media reports.

These reports said that the talks between the two parties are at an advanced stage.

The Tata Group has shown strong interest in the acquisition, while vivo India is hoping that Tata Group will increase the purchase price.

Currently, the two sides are yet to agree on a final agreement.