Indonesia Rejects Apple's $100M iPhone Investment Plan

The Indonesian government has rejected Apple's $100 million investment proposal, citing it as insufficient when compared to larger investments made by Apple in neighboring countries like Vietnam and Thailand. Industry Minister Agus Gumiwang Kartasasmita highlighted that the offer does not adhere to 'fairness' principles, given Apple's greater investments in regions with lower sales volumes. Indonesia, leading Southeast Asia in iPhone sales, has banned the iPhone 16 due to unmet local content requirements, demanding at least 40% of components be locally made. Apple previously fell short of a $10 million investment commitment and aims to resolve the sales ban by boosting its investment to $100 million. The government is firm on seeking further negotiations to enhance Apple's commitment to local manufacturing, mirroring Apple's earlier strategy in India, which needed substantial local manufacturing for retail operations.