Apple Increases Indonesia Investment Tenfold to $100 Million to Lift iPhone 16 Ban

Nov 19, 2024, 04:28 AM

Apple has increased its investment offer in Indonesia from about $10 million to almost $100 million, according to sources familiar with the matter, in an effort to persuade the government to lift its sales ban on the iPhone 16. Indonesia rejected Apple's previous $10 million offer, as the government seeks greater focus on research and development investments rather than accessory manufacturing to meet its 40% local content requirement. Apple is aiming to satisfy these requirements to regain access to Indonesia's significant market of 278 million people, the world's fourth-most-populous nation. The US tech giant currently holds 12% market share in the country.