Indonesia has blocked sales of Apple Inc’s latest iPhone 16 models as Apple failed to meet local investment requirements, the WSJ reported.

The Ministry of Industry told the Wall Street Journal PT Apple Indonesia did not fulfill its investment commitment to sell the new iPhone series in the country.

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The sales ban applied to iPhone 16 models and other Apple products remain unaffected by the ban.

Apple’s investment is currently short by 240 billion rupiah of the 1.71 trillion rupiah (approximately $108.9 million) needed for the license, Indonesia’s Industry Minister Agus Gumiwang Kartasasmita told WSJ.Varanasi Investment

Indonesia’s policy requires companies to source some goods or services domestically, which can be achieved through investments or local hiring to reduce reliance on imports.

The ban targets iPhone 16s sold within Indonesia, though handsets bought abroad for personal use are permitted if not resold.

Apple’s smartphone sales declined 0.3% in the third quarter in China, despite the overall Chinese smartphone market growing 3.2%, according to IDC.

Apple launched significant promotions for the iPhone 16 in China, providing pre-release discounts on platforms like PDD Holdings’ Pinduoduo and Alibaba’s Taobao. Leading up to Singles’ Day, Apple applied additional price cuts to boost sales.

Needham analyst Laura Martin projects that iPhone sales will contribute 89%-96% of Apple’s revenue in 2025.

JPMorgan analyst Samik Chatterjee’s survey revealed that upgraders and switchers showed strong interest in the iPhone 16, especially in key markets like the U.S. and China. However, high-end models are slightly less popular this cycle, particularly in China.

While faster performance and 5G remain top reasons for upgrading, Apple’s intelligence features ranked lower, possibly due to limited availability. Chatterjee also noted Samsung’s global dominance outside Apple and Huawei’s continued strength in China, with a notable portion of Android users in China interested in switching to the iPhone.

Apple stock gained 36% in the last 12 months. Investors can gain exposure to the stock through Vanguard S&P 500 ETF and Vanguard Total Stock Market ETF .

Price Action: AAPL stock is up 0.54% at $232.67 premarket at the last check on Monday.

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Photo courtesy: Apple

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