Indonesia Anticipates US$1 Billion Investment from Apple to Lift iPhone 16 Ban
Indonesia expects US$1 billion investment from Apple to lift iPhone 16 ban. Apple's previous investment offers of US$10 million and US$100 million were rejected. Indonesia sold around 2.9 million iPhones in 2023 despite the ban.
The local government is looking for a US$1 billion commitment from Apple to lift the restrictions that have been in place since the end of October 2024.
Investment Minister Rosan Roeslani revealed that Indonesia is raising its requirements for Apple, emphasising the importance of investment and job creation within the country. The minister expressed optimism about Apple's potential US$1 billion investment within a week, highlighting the significance of the global value chain moving to Indonesia.
Apple's previous attempts to address the situation included a US$10 million investment offer, which was rejected by Indonesia. Subsequent offers, including a US$100 million proposal, were also turned down by the Indonesian government.
Despite the ban on iPhone 16 sales, Apple managed to sell approximately 2.9 million iPhones in Indonesia in 2023. While Apple has not yet shifted its manufacturing operations to Indonesia, the country has been gaining importance for the tech company. Apple's CEO, Tim Cook, previously indicated that the company would consider manufacturing in Indonesia, following the opening of the fourth Developer Academy in the country.
As of now, Apple has not provided any comments regarding the announcements made by Investment Minister Rosan Roeslani. The situation underscores the significance of foreign investment and economic partnerships in the tech industry, particularly in emerging markets like Indonesia.
Indonesia expects US$1 billion investment from Apple to lift iPhone 16 ban
Apple's previous investment offers of US$10 million and US$100 million were rejected
Indonesia sold around 2.9 million iPhones in 2023 despite the ban
Source: APPLE INSIDER