Apple Inc. has submitted a revised investment offer worth $1 billion to Indonesia, in an attempt to lift the ban on selling its flagship iPhone 16 devices in the country. The new proposal is significantly higher than the company’s initial bid of $10 million for a factory making accessories and components.
Indonesia imposed the ban due to concerns over Apple’s compliance with domestic content requirements for smartphones and tablets. However, the government has expressed willingness to revisit the decision if Apple can demonstrate its commitment to investing in the country.
Apple’s revised offer is seen as a major step towards meeting Indonesia’s demands. The company had previously pledged $107 million for developer academies across Indonesia but fell short by some $10 million.
Industry Minister Agus Gumiwang Kartasasmita has emphasized the need for Apple to establish a local plant, which would create jobs and stimulate related investments across various sectors.
This is not the first time Indonesia has used its economic leverage to secure better deals from foreign companies. The government has previously forced ByteDance Ltd.’s TikTok to split its shopping feature from its social media platform and banned the export of raw materials like nickel to encourage local processing and battery production.
Source: https://finance.yahoo.com/news/indonesia-says-apple-offer-1-123339550.html