Apple close to winning Indonesian approval to end iPhone 16 ban
Apple Inc. is close to getting Indonesia to lift its ban on iPhone 16 sales, after President Prabowo Subianto gave his approval for the government to accept a $1 billion investment from the US tech giant, according to people familiar with the matter.
Indonesia warmed to Apple’s proposal after Prabowo was briefed on it over the weekend at a meeting that discussed the tug-of-war between the government and Apple, the people said, asking not to be identified discussing talks that were private. The country prohibited the sale of Apple’s flagship device last month, saying Apple had failed to comply with domestic content requirements for smartphones and tablets.
At the meeting, Prabowo greenlit the government to accept Apple’s proposal and urged his cabinet to obtain more investments in future, the people said.
The US technology giant secured Prabowo’s approval based on its expanded investment plans, which Apple had presented to the government in an official written proposal. An added key aspect is that one of Apple’s suppliers will set up a plant producing AirTags on the island of Batam, the people said.
The plant is expected to employ around 1,000 workers initially and Apple has chosen Batam, about a 45-minute ferry ride from Singapore, because of its free-trade zone status, which exempts companies from value-added and luxury taxes, as well as import duties, the people said.
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Financial Literacy for Non-Finance Executives
By — CA Raja, Chartered Accountant | Financial Management Educator | Former AVP — Credit,
