The Indonesian government has agreed to terms with Apple to lift a ban on sales of the iPhone 16 model, a government source familiar with the matter told AFP on Tuesday, ending months of negotiations between Jakarta and the tech giant.
Indonesia in October prohibited the marketing and sale of the iPhone 16 model over Apple鈥檚 failure to meet local investment regulations requiring that 40 per cent of phones be made from local parts as the country seeks to boost investments from giant tech companies.
The government source did not disclose any information about the terms, nor when the agreed conditions would be presented to the public.
In November Indonesia rejected a $100 million investment proposal from Apple, saying it lacked the 鈥榝airness鈥� required by the government.
The negotiation deadlock forced the tech giant to later offer an investment of $1 billion to build an AirTag factory in the country.