Apple invests $1 billion in manufacturing in Indonesia
Apple has started negotiations with the Indonesian government after the sale of the iPhone 16 was banned in October due to the company's insufficient investment in the country's economy.
Here's What We Know
As a result of the negotiations, an agreement was reached on investments worth $1 billion.
Initially, Apple was supposed to invest $109 million to set up an academy for developers, but the government said the company had spent only $95 million. After that, in response to the iPhone 16 ban, Apple offered to increase its investment in the manufacturing industry in Indonesia from $10 million to $100 million.
Currently, Indonesia's investment minister has confirmed that the company has committed to investing $1 billion in a manufacturing plant that will produce components for smartphones and other products. Details of the deal are being discussed and an announcement is expected in the near future.
Source: 9to5Mac
