Apple allocates Rp8 trillion for the supply of rare earth magnet components

Apple announced that it will spend US$500 million (around Rp8.1 trillion) in the next few years to purchase rare earth magnets from the US-based company MP Materials.

As reported by Engadget on Thursday, this magnet is an important component in various Apple devices such as the iPhone, MacBook, and the Apple Pencil stylus.

Apple explained that the magnets made by the US company will be distributed globally to meet the growing demand for the material worldwide.