Corporate

Apple Makes $100 Mln Investment Proposal for New Plant in Indonesia

November 20, 2024, 07.31 PM | Source: Reuters

ILUSTRASI. A man holds an Apple iPhone 16 Pro Max ahead of the launch of sales of the new iPhone 16 series smartphones in a store in Moscow, Russia September 20, 2024. The sign on the sticker reads: 'Demo model.' REUTERS/Evgenia Novozhenina

APPLE - JAKARTA. Tech giant Apple has made a $100 million investment proposal to Indonesia to build a plant to manufacture accessories and components, the industry ministry said on Wednesday.

The proposal comes after Indonesia banned sales of Apple's iPhone 16 over the firm's failure to meet local rules on components. Indonesia requires certain smartphones sold domestically to comprise at least 40% locally-made parts.

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