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.

If confirmed, that would be a tenfold increase from Apple’s last offer of US$100 million. Read more at straitstimes.com.

Indonesia is expecting to get a $1 billion investment commitment from tech firm Apple Inc in a week, its investment minister said on Tuesday, after the government banned iPhone 16 sales for failing to meet local content rules.

Indonesia’s investment minister, Rosan Roeslani, said that the country is expecting $1 billion from Apple as an investment. It’s important to note that Indonesia has banned iPhone 16 sales locally because the smartphones must contain at least 40 percent locally-made parts.

Apple has significantly hiked its investment proposal to Indonesia and is now offering $1 billion in a bid to resolve the ongoing iPhone 16

Indonesia is expecting to get a $1 billion investment commitment from tech firm Apple Inc in a week, its investment minister said on Tuesday, after the government banned iPhone 16 sales for failing to meet its local content rules.

Apple is known for playing hardball when it comes to negotiations, but it seems the Indonesian government is capable