iPhone 16 ban effective! Indonesia says Apple (AAPL.US) to invest up to US$1bn

Indonesian officials said on Tuesday they had received an improved investment offer from Apple (AAPL.US) worth $1bn, the latest effort by the tech giant to lift a sales ban on its iPhone 16 phones in the Southeast Asian country's largest economy. Indonesian investment minister Rosan Roeslani told lawmakers on Tuesday that the government and Apple had agreed on the figure as the "first phase" of the company's investment, adding that he expected to receive a written commitment from Apple within a week. "We want to see fairness. You get benefits here. You invest and create jobs here," Roeslani said. Apple had previously offered a $100m investment plan to Indonesia to build a factory to produce accessories and components, but the Indonesian government was not satisfied with the investment amount and maintained the sales ban on Apple's iPhone 16 series. Indonesia has banned the sale of the iPhone 16 due to Apple's failure to meet local content requirements for smartphones and tablets. It has also banned the sale of Google's (GOOGL.US) Pixel phones for similar reasons.