financetom
Business
financetom
/
Business
/
Indonesia to meet Apple on investment proposal, official says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Indonesia to meet Apple on investment proposal, official says
Jan 6, 2025 10:11 PM

JAKARTA, Jan 7 (Reuters) - Indonesia's industry ministry

will meet representatives from Apple ( AAPL ) on Tuesday to

discuss its investment in the country, a prerequisite for the

tech giant to sell its latest iPhone 16 locally, a ministry

official said.

Indonesia last year banned sales of Apple's ( AAPL ) iPhone 16 after

it failed to meet requirements that smartphones sold

domestically should comprise at least 40% locally-made parts.

Apple ( AAPL ) currently has no manufacturing facilities in

Indonesia, a market of 280 million people, but has since 2018

set up application developer academies in the country.

"Today, Apple's ( AAPL ) top brass will come to the Industry Ministry

to negotiate the outstanding investment commitment and Apple's ( AAPL )

proposal," Industry Ministry spokesperson Febri Hendri said.

Apple ( AAPL ) did not immediately respond to a request for comment.

Indonesia has previously said it requires Apple ( AAPL ) to commit to

new investments every three years and its last commitment, worth

$10 million, ended in 2023. It is required to make a new

commitment for 2024-2026 to meet the local content mandate.

Indonesia's has said Apple's ( AAPL ) plans to invest $1 billion in a

manufacturing plant that produces components for smartphones and

other products, details of which were still being ironed out.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Abercrombie & Fitch Insider Sold Shares Worth $1,100,254, According to a Recent SEC Filing
Abercrombie & Fitch Insider Sold Shares Worth $1,100,254, According to a Recent SEC Filing
Dec 4, 2024
04:56 PM EST, 12/04/2024 (MT Newswires) -- Suzanne M Coulter, Director, on December 02, 2024, sold 6,800 shares in Abercrombie & Fitch ( ANF ) for $1,100,254. Following the Form 4 filing with the SEC, Coulter has control over a total of 9,275 shares of the company, with 9,275 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1018840/000122520824010533/xslF345X05/doc4.xml ...
Culp Fiscal Q2 Loss Widens, Net Sales Decline -- Shares Drop After Hours
Culp Fiscal Q2 Loss Widens, Net Sales Decline -- Shares Drop After Hours
Dec 4, 2024
04:56 PM EST, 12/04/2024 (MT Newswires) -- Culp ( CULP ) late Wednesday reported a fiscal Q2 net loss of $0.45 per diluted share, wider than a $0.19 loss a year earlier. One analyst polled by FactSet expected a $0.34 loss. Net sales for the quarter ended Oct. 27 were $55.7 million, compared with $58.7 million a year earlier. One...
AeroVironment Stock Falls On Q2 Earnings: The Details
AeroVironment Stock Falls On Q2 Earnings: The Details
Dec 4, 2024
AeroVironment Inc ( AVAV ) reported second-quarter financial results for fiscal 2025 Wednesday after the bell. Here’s a look at the key metrics from the quarter. Q2 Earnings: AeroVironment ( AVAV ) reported second-quarter revenue of $188.5 million, up from $180.8 million year-over-year, according to Benzinga Pro. The company reported adjusted earnings of 47 cents per share, down from adjusted earnings...
AeroVironment Fiscal Q2 Non-GAAP Earnings Fall, Revenue Rises; Fiscal 2025 Guidance Maintained
AeroVironment Fiscal Q2 Non-GAAP Earnings Fall, Revenue Rises; Fiscal 2025 Guidance Maintained
Dec 4, 2024
04:56 PM EST, 12/04/2024 (MT Newswires) -- AeroVironment ( AVAV ) reported fiscal Q2 non-GAAP earnings late Wednesday of $0.47 per diluted share, down from $0.97 a year earlier. Analysts polled by FactSet expected $0.76. Revenue for the quarter that ended Oct. 26 was $188.5 million, up from $180.8 million a year earlier. Analysts surveyed by FactSet expected $181.8 million....
Copyright 2023-2026 - www.financetom.com All Rights Reserved