Apple had pledged to invest around $109 million in Indonesia, but it's about $15 million short. It also failed to ensure the iPhone 16 has at least 40% locally manufactured components.

Tech giant Apple Inc will not be allowed to sell its iPhone 16 smartphones in Indonesia because they have not met the country's rules on the use of locally made components, the industry ministry said.

Indonesia has blocked Apple Inc. from selling its latest iPhone 16 devices in Southeast Asia’s largest economy, saying the company has yet to meet domestic investment requirements.