Indonesia says Apple to offer $1 billion to lift iPhone ban

Indonesia said that it has received an improved investment offer worth $1 billion from Apple Inc., in the tech giant s latest bid to lift a ban on the...

Indonesia said that it has received an improved investment offer worth $1 billion from Apple Inc., in the tech giant’s latest bid to lift a ban on the sale of iPhone 16 devices in Southeast Asia’s largest economy.

The Indonesian government and Apple have settled upon the number as a "first phase” of outlay, Investment Minister Rosan Roeslani told lawmakers on Tuesday, adding that he expects to get a written commitment letter from the company in a week.

"We want to see fairness,” Roeslani said. "You get benefits here. You invest here and create jobs.”

If confirmed, that would be a tenfold increase from Apple’s last offer of $100 million. Its initial bid was an even smaller $10 million for a factory making accessories and components in the city of Bandung just outside of the capital Jakarta, Bloomberg News earlier reported.

Indonesia prohibited the sale of Apple’s flagship iPhone 16 devices, saying it has failed to comply with domestic content requirements for smartphones and tablets. The Cupertino, California-based company had pledged in 2023 to invest 1.7 trillion rupiah ($107 million) for developer academies across Indonesia yet had fallen short by some $10 million.