Indonesia has imposed a ban on the sale of Apple’s latest iPhone 16 models due to the company’s failure to meet local investment requirements.

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	Forwarded this email? Subscribe here for more Apple iPhone 16 sales banned in Indonesia over local investment issue MacDailyNews Oct 28   READ IN APP   Apple’s A18-powered iPhone 16 Indonesia has imposed a ban on the sale of Apple’s latest iPhone 16 models due to the company’s failure to meet local investment requirements. The Indonesian Ministry of Industry stated that Apple’s local subsidiary, PT Apple Indonesia, “has not fulfilled its investment commitment,” which is a prerequisite for selling the new iPhone model in the country. Kimberley Kao for The Wall Street Journal: ‎ State media Antara reported that Indonesia’s industry minister, Agus Gumiwang Kartasasmita, said Apple’s investment is 240 billion rupiah short of the 1.71 trillion rupiah, or around $108.9 million, needed to obtain the license to sell the iPhone 16 units. Under an Indonesian policy aimed at supporting domestic industries and reducing dependence on imported products, companies have to meet set requirements for using goods or services sourced from within the country. This can be done via various means, including investments or hiring local workers. The ban applies to sales of iPhone 16 units transacted within the country… The cellphone market in Southeast Asia’s largest economy is a lucrative one, benefiting from a large, growing population and rising disposable incomes. There are an estimated 354 million devices in active use in Indonesia, according to the ministry. ‎ MacDailyNews Take: Apple will consider building an assembly facility in Indonesia, CEO Tim Cook said in April after meeting President Joko Widodo, who hoped the tech giant would increase its local production by partnering with domestic firms. Cook did not provide a timeline for investments into the country. We are currently about 1/4th of the way to being sustainable with Substack subscriptions. Not a bad start! Please tell your Apple-loving friends about MacDailyNews on Substack and, if you’re currently a free subscriber, please consider $5/mo. or $50/year to keep MacDailyNews going. Just hit the subscribe button. Thank you! Upgrade to paid You're currently a free subscriber to MacDailyNews. For the full experience, upgrade your subscription. Upgrade to paid   Like Comment Restack   © 2024 MacDailyNews 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe