American multinational technology company Apple Inc soon has to realize 40 percent of its total USD $44 million worth of investment plans in Indonesia if it wants to keep distributing its iPhone 7 on the Indonesian market. Late last year Apple committed itself to invest a total of USD $44 million in the establishment of innovation centers in Indonesia over the next three years. However, 40 percent of the total is required to be invested in the first year (which is 2017).
Update COVID-19 in Indonesia: 1,298,608 confirmed infections, 35,014 deaths (23 February 2021)
23 February 2021 (closed)
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Indonesian Communication & Information Minister Rudiantara informed on Wednesday (02/11) that American multinational technology company Apple Inc. - famous for designing, developing, and selling consumer electronics, computer software, and online services - will start building its second-biggest research and development facility in Indonesia somewhere in 2017. Although Apple has not commented on the news, Rudiantara confirmed that he had met several representatives from both Apple's Asia Pacific office and the US headquarters.
Stock trading at the Indonesia Stock Exchange (IDX) restarted on Wednesday (22/07) after the four-day Idul Fitri holiday ended. Shortly after opening on Wednesday, Indonesia’s benchmark Jakarta Composite Index (IHSG) rose 0.50 percent on investors’ optimism about the recent good performance of global stock markets after debt-ridden Greece reached an agreement with its international creditors while turmoil in Chinese stocks faded. Not long after opening, however, Indonesian shares were dragged down by other Asian indices.
The most controversial and heatedly debated news story from Indonesia in the past week was parliament’s approval of a new bill that puts an end to direct voting in the regions. This means that it are not the people but instead the regional legislatures that will elect mayors, district heads and governors. Critics say this is a major setback for the democracy process of Indonesia and will make local elections prone to corruption, collusion and nepotism as Indonesia’s legislatures - both at the national and regional level - are believed to be corrupted to a high degree.
Indonesian stocks and rupiah exchange rate weakened considerably on Friday (26/09) after Indonesian parliament approved a new bill that puts an end to direct local elections. Moreover, market sentiments were negative after stocks on Wall Street plunged on Thursday because of increasing concern about the global economy as well as consumers’ problems with Apple's latest software updates and new product launches (iPhone 6 and iPhone 6 Plus) resulting in a 3.8 percent slide of Apple shares.
Erajaya Swasembada is the market leader for the distribution of mobile communication products in Indonesia. The Erajaya Group is the official distributor for ten international brands of smartphones, tablets, and android devices. These include Nokia, Apple, Samsung, Blackberry, Acer, Dell, HTC, Motorola, Sony, LG, Huawei and Venera. The Erajaya Group has grown into a large distribution network made up of 70 distribution branches, 236 stores in 27 cities and partnerships with more than 16,000 third-party re-sellers.
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The government of Indonesia targets to see 35 million domestically-produced mobile phones (per year) starting from 2017. Meanwhile, Indonesia’s wireless network is to be upgraded to 4G speeds by the same year (a 4G network is the new necessity for those with smartphones or tablets) although currently the country’s telecommunication operators are still in the middle of building receivers to boost 3G utilization. The government hopes to see a total of USD $4.5 billion investment in the telematics sector.
The recently unveiled Indonesian regulation that forces the country’s 4G smartphone and tablet manufacturers to use at least 40 percent locally-produced components in their cell-phone devices is a source of concern for tech companies such as Apple and Samsung that are eager to expand into Indonesia where smartphone penetration is still low. Moreover, the restriction may encourage smartphone smuggling in Southeast Asia’s largest economy. The new regulation will come into effect on 1 January 2017.
Indonesia's Composite Index (IHSG), the main stock index of Indonesia, went back into negative territory on Wednesday (24/07) with all sectors closing in the red. Worst performing sectoral indices were construction, agriculture and the miscellaneous industry. This development was in line with the Asian region that showed mixed performances after HSBC's Chinese manufacturing PMI contracted. Stock indices in Europe and the United states, that both close hours after the IHSG ends its daily session, were more positive on Wednesday.
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