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Indonesia says Apple's $135m investment offer 'unfair'
The Straits Times
|November 27, 2024
Indonesia has rejected a US$100 million (S$134.8 million) investment proposal from Apple aimed at lifting a ban on iPhone 16 sales, saying it lacks the "fairness" required by the government.
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Indonesia in October prohibited the marketing and sale of the iPhone 16 model over Apple's failure to meet local investment regulations requiring that 40 percent of phones be made from local parts as the country seeks to boost investments from giant tech companies.
Following the ban, Apple offered to increase its investments in Indonesia by US$100 million to allow the new phone to be sold domestically.
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