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News on Medial
Indonesia says Apple's $100 million investment proposal inadequate
Economic Times
·
8m ago
Medial
Indonesia has rejected a $100 million investment proposal from Apple to build an accessory and component plant, stating that it falls short of the requirements necessary for the tech giant to sell its latest iPhone there. In November, Indonesia banned sales of Apple's iPhone 16 for not meeting the domestic requirement of 40% locally-made parts. The country has also banned sales of Google Pixel phones for a similar reason. Indonesia's Industry Minister, Agus Gumiwang Kartasasmita, expressed that the proposal did not align with principles of fairness.
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Apple step closer to seeing end of Indonesia iPhone sales ban
Economic Times
·
5m ago
Medial
Indonesia has approved local certificates for over a dozen Apple products, progressing towards lifting a ban on iPhone sales due to unmet local content requirements. Apple's $150 million investment includes building facilities for accessories and AirTags, and a semiconductor R&D center. Previously, Jakarta rejected a $100 million proposal. The move aligns Apple with regulations mandating 40% local components in phones. Despite the sales ban, non-commercial imports were allowed. Google Pixel phones face similar restrictions.
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Apple plans $1 billion manufacturing plant investment in Indonesia, minister says
Economic Times
·
8m ago
Medial
Apple plans to invest $1 billion in a manufacturing plant in Indonesia to produce components for its products, according to Indonesia's investment minister. The move comes after Indonesia banned sales of the iPhone 16 due to Apple's failure to meet local content requirements. The government recently increased the local content requirement, prompting Apple to consider the investment. However, details are still being finalized, and a written commitment from Apple is expected. The tech giant currently has no manufacturing facilities in Indonesia but has set up application developer academies to meet local content requirements in the past.
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Apple CEO Tim Cook says looking into possibility of building manufacturing facility in Indonesia
Economic Times
·
1y ago
Medial
Apple CEO Tim Cook has expressed interest in the possibility of building a manufacturing facility in Indonesia. The announcement came after his meeting with President Joko Widodo, during which they discussed the country's desire to see increased manufacturing. Currently, Apple's manufacturing is largely based in Vietnam, with some suppliers in Indonesia. However, Apple has established four Apple Developer Academies in Indonesia, indicating their recognition of the country's tech-savvy population and potential as a key market for investment.
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Indonesia issues telco permits for five Apple iPhone 16 models
Economic Times
·
4m ago
Medial
Indonesia has granted telecommunications permits for five models of Apple's iPhone 16, marking progress towards allowing sales following a ban for unmet local content requirements. The permits cover the iPhone 16e, iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max. Apple now needs an import permit for local sales. This development accompanies Apple’s $300 million investment in Indonesia, including component plants and a research center, amidst concerns about investor confidence and protectionism.
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Appen says US-based Innodata withdraws buyout offer on confidentiality breach
Reuters
·
1y ago
Medial
Appen has announced that Innodata has withdrawn its initial proposal for a takeover, which had offered a premium of over 100% to Appen's share price. Appen did not disclose the value or the date of the proposal, citing confidentiality. Innodata's withdrawal came after Appen had disclosed the proposal, which was meant to remain confidential.
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Indonesia to meet Apple on investment proposal, official says
Economic Times
·
7m ago
Medial
Indonesia's industry ministry is meeting with Apple to discuss investment plans necessary for selling the iPhone 16 locally, following a ban due to unmet local content requirements. Apple, lacking manufacturing sites in Indonesia, previously committed $10 million. It now needs a new investment for 2024-2026 to align with local mandates. Discussions include a proposed $1 billion investment from Apple to establish a manufacturing plant for smartphone components.
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High taxes, selective bans drive 30% growth in illegal online gambling in India, says study
Economic Times
·
1y ago
Medial
A new study by the Centre for Knowledge Sovereignty (CKS) reveals that inadequate regulations, selective bans, and high taxation are fueling illegal betting and gambling in India. Despite regulatory restrictions, the illegal betting market in India receives an estimated $100 billion in annual deposits, and it is projected to grow at a rate of 30% per year. The legal framework for online gaming is considered inadequate, providing a favorable environment for illicit gambling operators. CKS suggests the government establish a dedicated task force and create a whitelist of legitimate operators to address the issue.
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Apple shareholders not expected to scrap diversity programs despite broader backlash
Economic Times
·
5m ago
Medial
Apple shareholders are expected to reject a proposal by the National Center for Public Policy Research to scrap Apple's diversity, equity, and inclusion programs, similar to a recent proposal rejected by Costco. Despite legal risks cited by the proposal's proponents, Apple argues its diversity initiatives are essential to its success and market value. The proposal highlights potential litigation risk but is unlikely to succeed, as Apple's management remains committed to diversity efforts.
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Apple wants to keep diversity programs disavowed by other US firms
Economic Times
·
6m ago
Medial
Apple's board is advising shareholders to oppose a proposal to end its diversity, equity, and inclusion (DEI) programs, distancing itself from actions taken by other US companies like Meta, McDonald's, and Ford. The proposal, from a conservative think tank, follows a Supreme Court ruling against affirmative action. Apple's board, including CEO Tim Cook, argues the proposal is unnecessary and restricts business management, reaffirming its commitment to equal employment opportunities. The decision will be voted on in February.
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Apple iPhone 16 banned for sale in Indonesia: What's the controversy about?
Livemint
·
9m ago
Medial
Apple's iPhone 16 has been banned in Indonesia due to not meeting the country's domestic content requirements. The ban was imposed because Apple has invested less money in Indonesia compared to its commitment. The company does not have any manufacturing facilities in the country, unlike its competitors. Only a small number of iPhone 16 units have reached Indonesia this year, and they were for personal use and not for sale. In related news, Apple has released the iOS 18.1 update, bringing AI features to the iPhone 16 series and iPhone 15 Pro models.
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