Indonesia tells Apple $100 million investment isn't enough to lift iPhone 16 sale ban

Indonesia's Ministry of Industry has snubbed Apple's proposal to invest 1.6 trillion Rupiah in an iPhone accessory and component factory, saying it's not enough to justify lifting a ban on sales of the iPhone 16 in the world's fourth-most populous nation.The minister cited Apple's unfulfilled promises to invest in Indonesia and lack of locally produced components as reasons for the ban.

The government rated Apple's offer as uncompetitive compared to its activities in other countries, as well as rival smartphone brands that operate in Indonesia. The government also feels the offer doesn't adequately add value or contribute to state revenue, or meet job creation expectations.Apple beats expectations, but drops in China

The sales were purported to generate an estimated Rp30 trillion for the iCompany – a figure rather larger than its $100 million factory offer.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indonesia bans iPhone 16 over Apple’s undelivered investment promisesPlus: Singapore building two Supercomputers; Toyota to rebuild IT with Fujitsu AI; Are Samsung engineers jumping ship?
Source: TheRegister - 🏆 67. / 61 Read more »

I blew $100 million NBA earnings and had to work at Starbucks, but ‘miracle’ turnaround saw me become cha...How Former NBA Player Vin Baker blew $100 million in earnings and ended up working at Starbucks, but had ‘miracle’ turnaround to became champion with ‘Greek Freak’ Giannis
Source: talkSPORT - 🏆 91. / 53 Read more »