📰 Bloomberg reports that the Indonesian Ministry of Industry and Apple have agreed on the terms of lifting the ban in the country on the iPhone 16 series, which was in effect from October 2024, the parties may sign the agreement as early as this week.
ℹ️ Indonesia imposed a ban on new smartphones from Apple because the company failed to meet the requirements that smartphones sold domestically must contain at least 35% locally manufactured parts and at least $115 million investment in local industry each year.
💰 Now, it seems that after much wrangling and discussions with the government, Apple plans to invest $1 billion in Indonesia after all, including:
🏭 Building a factory in Batam, to produce the AirTag;
🏭 Building a factory in Bandung, Jakarta, to produce other types of iPhone accessories and components;
🎓 A new Apple Academy program to train locals in research and development of their applications;
💸 Payment of annual dues of $115 million is maintained.
💬 The Ministry of Industry plans to hold a press conference as soon as possible to announce the issuance of a license allowing the iPhone 16 to be sold in Indonesia.
@iPhone
#AppleInc #finance
📰 More Indonesia's news here