Investing.com– Apple Inc (NASDAQ: ) is close to reaching an agreement with the Indonesian government to lift a recent ban on domestic sales of its flagship iPhone, Bloomberg reported on Wednesday, citing a minister familiar with the matter.
Indonesia banned iPhone sales in October, citing Apple’s lack of compliance with domestic production and investment targets. But the company has since been in talks with Southeast Asia’s largest economy about an investment package, and is now reportedly close to lifting the ban.
Bloomberg previously reported that the Indonesian government rejected Apple’s offer to invest $1 billion to build air tags in the country. Lawmakers told Apple that local regulations required the tech giant to manufacture at least part of its iPhone locally in order to sell the device.
Indonesia is a major Southeast Asian market for Apple, with the government claiming the company has sold more than 2 million iPhones in the country by 2023.
