Apple (NASDAQ:AAPL) edged higher Thursday after reports indicated the company is close to resolving its dispute with Indonesia, which has blocked iPhone 16 sales over local investment rules. Investment Minister Rosan Roeslani told Bloomberg in Davos that he expects a resolution within one to two weeks.
The government had previously rejected Apple’s $1 billion investment plan, which included an AirTag factory, saying it did not meet local content requirements for smartphone production. Indonesia first imposed the ban in October 2024, citing Apple’s failure to meet investment thresholds. The company initially offered $100 million over two years, later increasing the bid to $1 billion.
Reports last month suggested President Prabowo Subianto approved the latest proposal, paving the way for a deal. Roeslani said the government and Apple are now working through differences in how local content is calculated and expressed confidence that an agreement will soon allow iPhone 16 sales to resume in the Southeast Asian market.
This article first appeared on GuruFocus.
