08:11 AM EST, 12/19/2024 (MT Newswires) -- Apple ( AAPL ) is about to have an Indonesian ban on iPhone 16 sales lifted after the country's president approved a $1 billion investment by the company in the country, Bloomberg reported Thursday, citing people familiar with the matter.

Sales of the phone were banned in the country for failing to comprise at least 40% parts made in Indonesia.

But President Prabowo Subianto took steps to remove the ban after Apple ( AAPL ) offered to have one of its suppliers build a 1,000-employee plants to produce AirTags on the Indonesian island of Batam, among other investments, Bloomberg reported.

Apple ( AAPL ) did not immediately reply to MT Newswires' request for comment.

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