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Apple.pdf
COMPANY PROFILE
Apple Inc
REFERENCE CODE: 5B0A0C20-9BB6-4284-A575-AC0F2261F45C PUBLICATION DATE: 04 Jan 2018 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED
A Progressive Digital Media business
Apple Inc TABLE OF CONTENTS
Apple Inc © MarketLine
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TABLE OF CONTENTS
Company Overview ........................................................................................................ 3 Key Facts ......................................................................................................................... 3 Tickers ............................................................................................................................. 4 Business Description ..................................................................................................... 5 Business Segment.......................................................................................................... 6 History ........................................................................................................................... 10 Key Employees ............................................................................................................. 56 Key Employee Biographies .........................................................................................58 Major Products & Services ..........................................................................................63 SWOT Analysis ............................................................................................................. 64 Top Competitors ........................................................................................................... 70 Company View .............................................................................................................. 71 Locations And Subsidaries .........................................................................................73 Financial Overview ....................................................................................................... 76
Apple Inc Company Overview
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Company Overview
COMPANY OVERVIEW
Apple Inc. (Apple) designs, manufactures, and markets mobile communication and media devices, personal computers (PCs), and portable digital music players, and sells a variety of related software, services, accessories, networking solutions, and third-party digital content and applications. Apple’s product portfolio includes iPhone, iPad, Mac, iPod, Apple Watch, Apple TV. Its portfolio of consumer and professional software applications include iOS, macOS, watchOS and tvOS operating systems, iCloud, Apple Pay and a variety of accessory, service and support offerings. Apple sells and delivers digital content and applications through the iTunes Store, App Store, Mac App Store, TV App Store, iBooks Store and Apple Music. The company operates globally across the US, Europe and Asia Pacific. Apple is headquartered in Cupertino, California, the US.
The company reported revenues of (US Dollars) US$229,234 million for the fiscal year ended September 2017 (FY2017), an increase of 6.3% over FY2016. In FY2017, the company’s operating margin was 26.8%, compared to an operating margin of 27.8% in FY2016. In FY2017, the company recorded a net margin of 21.1%, compared to a net margin of 21.2% in FY2016.
Key Facts
KEY FACTS
Head Office Apple Inc 1 Infinite Loop Cupertino California Cupertino California USA
Phone 1 4089961010 Fax Web Address www.apple.com Revenue / turnover (USD Mn) 229,234.0 Financial Year End September Employees 123,000 NASDAQ Ticker AAPL
Apple Inc Company Overview
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Tickers
TICKERS
AAPL
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Business Description
BUSINESS DESCRIPTION
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices and personal computers, and sells a variety of related software, services, accessories, networking solutions and third-party digital content and applications. The company’s products and services include iPhone, iPad, Mac, Apple Watch, Apple TV. It also offers consumer and professional software applications including iOS, macOS, watchOS and tvOS operating systems, iCloud, and Apple Pay. The company sells and delivers digital content and applications through the iTunes Store, App Store, Mac App Store, TV App Store, iBooks Store and Apple Music. The company sells its products worldwide through its retail stores, online stores and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers and value-added resellers. It also sells a variety of third-party Apple-compatible products, including application software and various accessories through its retail and online stores. The company sells to consumers, small and mid-sized businesses and education, enterprise and government customers. The company operates through five reportable product lines, iPhone, iPad, Mac, Services, and Other Products, which generated revenue of US$141,319 million, US$19,222 million, US$25,850 million, US$29,980 million, and US$12,863 million, respectively, in FY2017.
As of September 2017, the company owned facilities and land for corporate functions, R&D and data centers at various locations throughout the world.
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Business Segment
BUSINESS SEGMENT
iPhone
SegmentType: Overview
is a line of smartphones based on its iOS operating system. Provides Siri, a voice-activated intelligent assistant, and Apple Pay and Touch ID on qualifying devices.
Major products and brands include iPhone X, iPhone 8, 8 plus, iPhone 7, 7 Plus, 6s, 6s Plus and SE models.
iPhone
SegmentType: Performance
Reported revenue of US$141,319 million for FY2017, which grew 3% YoY (2017 vs 2016) and recorded a CAGR of 11.4% between 2014 and 2017. iPhone segment accounted for 62% of the company's revenue in FY2017.
Revenue growth was primarily due to higher iPhone unit sales and a different mix of iPhones with higher average selling prices.
iPad
SegmentType: Overview
Is a line of multi-purpose tablets based on its iOS operating system. Works with the iTunes Store, App Store, iBooks Store and Apple Music for purchasing, organizing and playing digital content and apps.
Major products and brands include iPad Pro, iPad and iPad mini. iPad includes Siri, Apple Pay and Touch ID.
iPad
SegmentType: Performance
Reported revenue of US$19,222 million for FY2017, which declined 7% YoY (2017 vs 2016) and recorded negative growth of 14% during 2014-17. iPad segment accounted for 8% of the company's total revenue in FY2017.
Revenue declined due to lower iPad unit sales and a different mix of iPads with lower average selling prices.
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Mac
SegmentType: Overview
Is a line of desktop and portable personal computers based on its macOS operating system. Includes Siri and Apple Pay and also includes Touch ID on qualifying devices.
Major products and brands include iMac, 21.5” iMac with Retina 4K display, 27” iMac with Retina 5K display, Mac Pro and Mac mini.
Mac
SegmentType: Performance
Reported revenue of US$25,850 million for FY2017, which grew 13% YoY (2017 vs 2016) and recorded CAGR of 124.4% during 2014-17. Mac segment accounted for 11% of the company's total revenue in FY2017.
Revenue growth was primarily due to different mix of Macs with higher average selling prices and higher Mac unit sales.
Services
SegmentType: Overview
Provides digital content and services, iCloud, AppleCare, and Apple Pay.
Major services offered by iCloud include iCloud Drive, iCloud Photo Library, Family Sharing, Find My iPhone, iPad or Mac, Find My Friends, Notes, iCloud Keychain and iCloud Backup for iOS devices.
Services
SegmentType: Performance
Reported revenue of US$29,980 million for FY2017, which grew 23% YoY (2017 vs 2016) and recorded CAGR of 22.7% during 2015-17. Services segment accounted for 13% of the company's total revenue in FY2017.
Revenue growth was primarily due to increases in App Store and licensing sales.
Other Products
SegmentType: Overview
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Provides accessories and solutions including Apple TV, Apple Watch and iPod Watch.
Other Products
SegmentType: Performance
Reported revenue of US$12,863 million for FY2017, which grew 16% YoY (2017 vs 2016) and recorded CAGR of 13% during 2015-17. Other Products segment accounted for 5.6% of the company's total revenue in FY2017.
Americas
SegmentType: Target Markets
Entire US
Americas
SegmentType: Performance
Reported revenue of US$96,600 million for FY2017, which grew 12% YoY (2017 vs 2016), and the segment recorded a CAGR of 10.9% in revenue during 2012-17. Americas region accounted for 42% of the company's revenue in FY2017.
Revenue growth was due to higher net sales of iPhone and Services.
Europe
SegmentType: Target Markets
Denmark, France, Germany, Hungary, Ireland, Italy, Poland, Portugal, Russia, Spain, Sweden, Turkey, the UK
Europe
SegmentType: Performance
Reported revenue of US$54,938 million for FY2017, which grew 10% YoY (2017 vs 2016), and recorded CAGR of 8.6% in revenue during 2012-17. Europe region accounted for 24% of the company's total revenue in FY2017.
Revenue growth was due to higher net sales of iPhone and Services.
Greater China
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SegmentType: Target Markets
China
Greater China
SegmentType: Performance
Reported revenue of US$44,764 million for FY2017, which decreased 8% YoY (2017 vs 2016), Greater China region accounted for 20% of the company's total revenue in FY2017.
Revenue decreased was due to lower net sales of iPhone.
Japan
SegmentType: Target Markets
Japan
Japan
SegmentType: Performance
Reported revenue of US$17,733 million for FY2017, which grew 5% YoY (2017 vs 2016), and recorded CAGR of 10.9% in revenue during 2012-17. Japan region accounted for 8% of the company's total revenue in FY2017.
Revenue growth was due to higher net sales of Services.
Rest of Asia Pacific
SegmentType: Target Markets
Australia, India, Indonesia, New Zealand, Philippines, Singapore, South Korea, Taiwan, and Thailand.
Rest of Asia Pacific
SegmentType: Performance
Reported revenue of US$15,199 million for FY2017, which grew 11% YoY (2017 vs 2016). Rest of Asia Pacific region accounted for 7% of the company's total revenue in FY2017.
Revenue growth was due to higher net sales of iPhone, Services and Mac.
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History
HISTORY
Acquisitions/Mergers/Takeovers
Year: 2018
In January, the company acquired Doe Pics Hit (Buddybuild) to develop amazing developer tools for the entire iOS community.
Contracts/Agreements
Year: 2017
In November, BioTelemetry, Inc signed an agreement to provide Cardiac monitoring for Apple’s Heart study.
New Products/Services
Year: 2017
In November, Apple launched iPhone X in 13 more countries.
Corporate Changes/Expansions
Year: 2017
In November, Apple launched its first redesigned Apple store in Australia.
Corporate Changes/Expansions
Year: 2017
In November, Apple opened its new store at Domain Northside in Austin.
New Products/Services
Year: 2017
In October, T-Mobile announced to offer iPhone X smartphone to its customers.
Contracts/Agreements
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Year: 2017
In October, Apple and GE partnered on software solution to help track power plants.
New Products/Services
Year: 2017
In October, Apple and GE paired up to bring the Industrial Internet to the iPhone and iOS.
Contracts/Agreements
Year: 2017
In October, Apple and GE partnered to bring Predix industrial apps to iPhone and iPad.
New Products/Services
Year: 2017
In December, the company introduced watchOS 4.2.2 beta for Apple Watch.
New Products/Services
Year: 2017
In October, the company launched iOS 11.0.3 update for iPhone, iPad, and iPod.
New Products/Services
Year: 2017
In May, Apple Pay service available to Mondadori Store customers.
New Products/Services
Year: 2017
In September, the company launched its iPhone 8 in Singapore.
New Products/Services
Year: 2017
In September, TELUS announced the availability of new generation iPhone 8 and iPhone 8 Plus, and
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Apple Watch Series 3.
New Products/Services
Year: 2017
In September, the company launched its new smartphone iPhone X.
New Products/Services
Year: 2017
In September, Logitech announced the Circle 2 Wired home security cameras and mounts now work with Apple HomeKit.
New Products/Services
Year: 2017
In December, the company launched new iPhones with bigger display and better battery life.
Contracts/Agreements
Year: 2017
In December, the company awarded finisar US$390 million from its Advanced Manufacturing Fund.
Contracts/Agreements
Year: 2017
In July, the company entered into an agreement with with medical device maker, Dexcom.
New Products/Services
Year: 2017
In December, the company announced to launch three new iPhones with bigger display and better battery life.
Contracts/Agreements
Year: 2017
In October, the company to provide secure mobile payments through apple pay inbuilt with a EMV
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tokenization software and assisted by Rambus in partnership with eftpos.
Acquisitions/Mergers/Takeovers
Year: 2017
In November, the company acquired virtual/augmented reality startup, Vrvana.
Acquisitions/Mergers/Takeovers
Year: 2017
In October, the company acquired PowerbyProxi, a company specializing in wireless charging technologies based on the Qi wireless standard from New Zealand.
Acquisitions/Mergers/Takeovers
Year: 2017
In October, the company announced the acquisition of camera sensor firm, InVisage Technologies.
Acquisitions/Mergers/Takeovers
Year: 2017
In September, the company announced the acquisition of Regaind, a French artificial intelligence startup.
Contracts/Agreements
Year: 2017
In August, the company and Accenture collaborated to assist businesses transform how their people engage with customers through innovative business solutions for iOS.
New Products/Services
Year: 2017
In August, the company to launch a 4K HDR streaming Apple TV.
Corporate Changes/Expansions
Year: 2017
In August, the company planned to construct a new data center in Waukee, Iowa, a midwestern U.S.
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state.
Corporate Changes/Expansions
Year: 2017
In August, Apple released a new version for iPhone 6 in India.
Plans/Strategy
Year: 2017
In August, Apple plans to launch a new store in Kyoto, Japan.
New Products/Services
Year: 2017
In August, Apple introduced a new beta, Beta 5 for iOS 11 Developer.
Contracts/Agreements
Year: 2017
In July, District of Columbia signed a deal to establish an Apple store to the historic Carnegie Library in Mount Vernon Square, Washington, D.C., the US.
Corporate Changes/Expansions
Year: 2017
In July, the company eliminated nano and shuffle stand alone digital music players from its portfolio.
Contracts/Agreements
Year: 2017
In July, the company partnered with Cochlear for the launch of the first made for iPhone Cochlear implant.
Corporate Changes/Expansions
Year: 2017
In July, the company opened up a GPU Design Center Near Imagination Technologies Headquarters.
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Contracts/Agreements
Year: 2017
In June, the company partnered with Microsoft to build Skype for iOS users.
Contracts/Agreements
Year: 2017
In July, the company and PayPal partnered for the payment options.
Corporate Changes/Expansions
Year: 2017
In July, the company to open its first data center in China to speed up services.
Plans/Strategy
Year: 2017
In June, the company planned for second European datacentre in Denmark.
Plans/Strategy
Year: 2017
In June, the company to launch three OLED iPhones in 2018.
Contracts/Agreements
Year: 2017
In June, the company teamed up Hertz for a small fleet of Lexus RX 450h SUVs for its autonomous driving technology.
Contracts/Agreements
Year: 2017
In June, the company and Tele2, an alternative mobile operator, partnered to develop telecom services.
Contracts/Agreements
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Year: 2017
In June, the company and Cisco partnered for new opportunities for service providers.
New Products/Services
Year: 2017
In June, the company launched new 10.5-inch and 12.9-inch iPad Pro models in market.
Contracts/Agreements
Year: 2017
In June, the company and IKEA partnered to provide augmented reality mobile app, which provide consumers a try-before-you-buy furniture shopping experience.
Corporate Changes/Expansions
Year: 2017
In June, the company to open its first store in Taiwan.
New Products/Services
Year: 2017
In June, the company introduced new accessories including wireless Magic Keyboard with numeric keypad.
New Products/Services
Year: 2017
In June, the company introduced iOS 11 to support Pay Cash, a peer-to-peer payments feature.
New Products/Services
Year: 2017
In June, the company launched Swift Playgrounds, its educational coding app for iPad, to provide to educate code using robots, drones and musical instruments.
Plans/Strategy
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Year: 2017
In June, the company to launch Siri Speaker product to counter its rival Amzon's Echo.
Corporate Changes/Expansions
Year: 2017
In May, the company opened up a store in Singapore.
Acquisitions/Mergers/Takeovers
Year: 2017
In June, the company acquired SensoMotoric Instruments, a provider of eye tracking systems.
Plans/Strategy
Year: 2017
In June, the company plans to launch chat platform, Business Chat for businesses to connect with the customers directly.
New Products/Services
Year: 2017
Apple unveiled the all-new App Store, designed to make discovering apps and games easier than ever before.
Others
Year: 2017
Nokia and Apple settled all litigation related to their intellectual property dispute and agreed a multi-year patent license.
Contracts/Agreements
Year: 2017
The company and Nokia signed a partnership agreement to provide network infrastructure products and services to Apple.
New Products/Services
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Year: 2017
The company introduced the new AI Chips and Ditch Intel and Qualcomm.
Others
Year: 2017
The company invested US$200 million in Corning’s Harrodsburg, Kentucky glass-making facility.
New Products/Services
Year: 2017
The company introduced a new app development curriculum for students.
Plans/Strategy
Year: 2017
The company planned for expansion of its production capacity in Bengaluru, Karnataka, India.
Plans/Strategy
Year: 2017
The company planned to start production of iPhone in Bengaluru, Karnataka, India.
Plans/Strategy
Year: 2017
The company planned to release three new iPhones.
Corporate Changes/Expansions
Year: 2017
The company opened its retail store in Singapore.
Plans/Strategy
Year: 2017
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The company planned to buy half city block for new facility in Reno.
Plans/Strategy
Year: 2017
The company planned to open its new flagship retail store in Mexico City.
Plans/Strategy
Year: 2017
The company planned to establish its retail store at The Dubai Mall.
Contracts/Agreements
Year: 2017
Apple Indian entered into an agreement with Karnataka government, to establish a manufacturing facility to assemble iPhones in India.
Plans/Strategy
Year: 2017
The company planned to establish two more research and development centers in China.
Corporate Changes/Expansions
Year: 2017
The company relocated St. Johns Town Center store in Jacksonville, Florida.
Plans/Strategy
Year: 2017
The company planned to introduce Apple Pay in Belgium.
Corporate Changes/Expansions
Year: 2017
The company opened its retail store in Cologne, Germany.
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Corporate Changes/Expansions
Year: 2017
Apple Self Storage opened a new facility in Kitchener, Ontario, Canada.
Plans/Strategy
Year: 2017
The company planned for expansion of its data center operations in Reno, Nevada , the US.
Corporate Awards
Year: 2017
The company received Louis Braille award to provide accessibility functions in devices such as iPhone, iPad, Apple Watch, and Mac.
Plans/Strategy
Year: 2017
The company planned to introduce its third generation Apple Watch.
New Products/Services
Year: 2017
The company announced to launch three new iPads in spring 2017.
Commercial Operation
Year: 2017
The company announced that it's new headquarters called as spaceship will open in 2017.
Commercial Operation
Year: 2017
The company opened its first R&D center in the city of Tangerang, Indonesia to retail its iPhone 7 and 7 Plus products.
Commercial Operation
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Year: 2017
The company announced to open its first official Apple store in Buenos Aires, the Argentina in 2018.
New Products/Services
Year: 2017
The company announced to launch the annual release of their next iPhone X in excess of US$ 1000.
New Products/Services
Year: 2017
The company partnered with Carl Zeiss to launch AR optics in 2018.
Financing Agreements
Year: 2017
Didi Chuxing secured US$6 billion in funding from Apple and other investors.
Contracts/Agreements
Year: 2017
Apple entered into partnership with Carl Zeiss, to introduce AR Glasses.
Contracts/Agreements
Year: 2017
Apple entered into an agreement with Iberdrola, to purchase electricity from wind farm in Oregon, the US.
Plans/Strategy
Year: 2017
The company planned to introduce redesigned iPad Pro and Siri Speaker at WWDC.
Plans/Strategy
Year: 2017
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The company planned to introduce peer-to-peer Apple Pay service.
Plans/Strategy
Year: 2017
The company planned for expansion of data center in Nevada, to meet the demand of iCloud Storage.
New Products/Services
Year: 2017
The company and Nike launched Apple Watch Nike+.
Plans/Strategy
Year: 2017
The company planned to release three new laptops.
Acquisitions/Mergers/Takeovers
Year: 2017
The company acquired Beddit, a sleep tracking company.
Corporate Changes/Expansions
Year: 2017
The company introduced its new store in Dubai.
Acquisitions/Mergers/Takeovers
Year: 2017
The company acquired Lattice Data for US$200 million.
Corporate Changes/Expansions
Year: 2017
The company inaugurated its first retail store in Taiwan in the Taipei 101 mall.
Contracts/Agreements
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Year: 2017
The company's Apple pay partnered with Santander MasterCard credit and debit cards to provide access to make payments.
Commercial Operation
Year: 2017
The company's Apple Pay service launched for the users in Taiwan.
New Products/Services
Year: 2017
The company launched new 9.7-inch iPad, with retina display, in India.
Contracts/Agreements
Year: 2017
Apple entered into an agreement with Montague Wind Power Project for purchasing power.
Corporate Changes/Expansions
Year: 2017
The company opened its new stores in Nanjing, Cologne and Miami.
Acquisitions/Mergers/Takeovers
Year: 2017
In March, the company acquired DeskConnect, the maker of Workflow automation application.
Corporate Changes/Expansions
Year: 2017
The company announced that Apple Park, the company’s new 175-acre campus, will be ready for employees to begin occupying in April 2017.
New Products/Services
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Year: 2017
The company launched its new iPhone 7 and iPhone 7 Plus RED special edition.
New Products/Services
Year: 2017
Apple launched a new app, Clips, for creating expressive videos on iPhone and iPad.
New Products/Services
Year: 2017
The company launched contactless payment service in Ireland.
Contracts/Agreements
Year: 2017
Sionic Mobile launched ION Rewards for Apple Watch, with a three-digit checkout process, in San Francisco.
New Products/Services
Year: 2017
The company released kernel vulnerabilities CVE-2017-2370 and CVE-2017-2360 for iOS 10.2.1 and macOS Sierra 10.12.3.
Contracts/Agreements
Year: 2017
The company entered into an agreement with NV Energy, to build 200 megawatts of additional solar energy in Nevada.
Plans/Strategy
Year: 2017
The company announced plans to open a new flagship location in Milan, Italy.
Plans/Strategy
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Year: 2017
The company announced its plans to relocate its Fifth Avenue New York City, the US.
Plans/Strategy
Year: 2017
The company announced plans to open a larger store at Crabtree Valley Mall in Raleigh, North Carolina, the US.
Acquisitions/Mergers/Takeovers
Year: 2017
The company acquired iCloud Network Solution (iCloud.NET).
Acquisitions/Mergers/Takeovers
Year: 2017
The company announced the acquisition of Israel-based start-up, RealFace.
Corporate Changes/Expansions
Year: 2017
The company announced the opening of first store in Korea.
Plans/Strategy
Year: 2017
Apple plans to launch a 15-inch MacBook with desktop class and Kaby Lake internals.
Plans/Strategy
Year: 2016
The company planned to introduce 5 inch iPhone with vertical dual camera system.
Plans/Strategy
Year: 2016
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The company planned to release iPhone 8 alongside iPhone 7s and iPhone 7s Plus.
Corporate Changes/Expansions
Year: 2016
The company entered augmented reality based wearable digital glass segment.
Plans/Strategy
Year: 2016
The company planned to release iPad Mini 5.
Plans/Strategy
Year: 2016
The company planned to introduce three new MacBook devices.
Plans/Strategy
Year: 2016
The company planned to open retail store and events center in Washington, DC, the US.
Plans/Strategy
Year: 2016
The company planned to introduce iPhone 7, Apple Watch 2, iOS 10 and New MacBook Pro.
Commercial Operation
Year: 2016
The company plans to open a dedicated distribution center in India to increase the availability of Apple i Phones.
Plans/Strategy
Year: 2016
The company planned to introduce new iPhone feature for Japan to allow users for paying mass-transit rides through smartphones.
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New Products/Services
Year: 2016
The company plans to launch FeliCa-enabled technology iPhone that supports tap-to-pay solutions for Japan's trains.
Plans/Strategy
Year: 2016
The company planned to introduce headphone jack-less iPhone 7.
Plans/Strategy
Year: 2016
The company planned to introduce Watch 2 without cellular support to avoid battery life worries.
Plans/Strategy
Year: 2016
The company planned to open its store in Vienna, Austria.
New Products/Services
Year: 2016
The company announced to launch Felica-enabled iPhone, which uses contactless technology invented by Sony.
Plans/Strategy
Year: 2016
The company planned to establish its research and development centre in China.
Plans/Strategy
Year: 2016
The company planned to release 10.5-inch iPad Pro model in next year.
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Others
Year: 2016
The company invested in augmented reality.
Plans/Strategy
Year: 2016
The company planned to introduce its store in Williamsburg, Brooklyn.
Contracts/Agreements
Year: 2016
The company partnered with Foxconn, in which Apple focused to expand its market in Southeast Asia by constructing two R&D centers in Indonesia, and China.
Corporate Changes/Expansions
Year: 2016
The company introduced Apple Pay in Hong kong.
Contracts/Agreements
Year: 2016
Apple and University of Naples Federico introduced iOS Developer Academy in San Giovanni a Teduccio, Naples, Italy.
Contracts/Agreements
Year: 2016
Samsung and Apple planned to introduce flagship smartphones.
Contracts/Agreements
Year: 2016
Apple entered into an agreement with Foxconn, to expand in Southeast Asia.
Contracts/Agreements
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Year: 2016
Samsung and Apple planned to introduce payment system in Russia.
Contracts/Agreements
Year: 2016
Farfetch entered into partnership with Apple, to introduce a new music channel.
Plans/Strategy
Year: 2016
The company planned to establish imaging research lab in Grenoble, France.
Plans/Strategy
Year: 2016
The company planned to establish an app developer school in Italy.
Plans/Strategy
Year: 2016
The company planned to open its first store in Taiwan.
Plans/Strategy
Year: 2016
The company set to introduce three new iPhone models.
Plans/Strategy
Year: 2016
The company planned to open its fifth store in Hong Kong.
Contracts/Agreements
Year: 2016
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Visa and American Express planned to introduce Apple Pay in Hong Kong.
Plans/Strategy
Year: 2016
The company planned to introduce Apple Watch 2 alongside iPhone 7.
Plans/Strategy
Year: 2016
The company set to introduce IPhone SE at iConnect Store Lekki and SPAR Hypermarket VI Lagos.
Corporate Changes/Expansions
Year: 2016
The company announced opening of its first Apple Store in Macau Special Administrative Region, China.
Plans/Strategy
Year: 2016
The company to introduce a redesigned Apple Music app in fall.
Plans/Strategy
Year: 2016
The company planned to introduce iMessage on Android.
Litigation
Year: 2016
The company filed an application with FERC for selling electricity and other power services.
Plans/Strategy
Year: 2016
The company to introduce new MacBook Air with minor refresh.
Plans/Strategy
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Year: 2016
The company planned to release iPhone 7 with 256GB storage capacity and fast charging.
Plans/Strategy
Year: 2016
The company planned to introduce 5K monitor with built-in graphics card.
Plans/Strategy
Year: 2016
The company planned for expansion of its Apple Pay services in Asia and Europe.
Plans/Strategy
Year: 2016
The company to introduce thinner and lighter MacBook Pro models with Touch ID.
Financing Agreements
Year: 2016
The company invested in research and development centre in Beijing's Zhongguancun technology hub with US$45 million.
Plans/Strategy
Year: 2016
The company planned for expansion of its operations in United Arab Emirates.
Plans/Strategy
Year: 2016
The company planned to establish Apple stores for selling used iPhones in India.
Commercial Operation
Year: 2016
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The company commenced iPhone 7 production with three new models arriving.
Plans/Strategy
Year: 2016
The company set to open new Union Square store in San Francisco.
Plans/Strategy
Year: 2016
The company to introduce iPhone SE in Brazil.
Plans/Strategy
Year: 2016
The company planned to establish three of its own retail stores in India.
Plans/Strategy
Year: 2016
The company planned to introduce All Glass iPhones with an AMOLED display.
Contracts/Agreements
Year: 2016
Apple entered into partnership with WWF, to introduce 24 Apps for Earth in its app store.
Plans/Strategy
Year: 2016
The company planned to introduce Apple watch 2.
Plans/Strategy
Year: 2016
The company to introduce Apple iPhone SE in Netherlands.
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Plans/Strategy
Year: 2016
Apple planned to introduce iPhone SE in India.
Plans/Strategy
Year: 2016
The company planned to release new 13 inch and 15 inch MacBook models.
Plans/Strategy
Year: 2016
Apple planned to introduce iPhone SE in Australia.
Corporate Changes/Expansions
Year: 2016
The company expanded its presence in China with introducing new store.
Plans/Strategy
Year: 2016
The company planned to release smaller screen iPhone and iPad.
Plans/Strategy
Year: 2016
The company planned to introduce 5.8-inch iPhone.
Plans/Strategy
Year: 2016
The company planned to open new office in San Francisco.
Plans/Strategy
Year: 2016
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The company planned to open Brickell City Centre in Florida.
Plans/Strategy
Year: 2016
The company planned to introduce a new iPhone and an iPad with A9 and A9X processor.
Plans/Strategy
Year: 2016
The company planned to introduce its first technology development centre in Hyderabad, India.
Plans/Strategy
Year: 2016
The company planned to introduce more apps to mobile platform.
Contracts/Agreements
Year: 2016
The company planned for opening its third retail store in Turkey.
Plans/Strategy
Year: 2016
The company planned to open store in Galeria Polnocna.
Plans/Strategy
Year: 2016
The company planned to open its first store in Shandong Province, China.
Corporate Changes/Expansions
Year: 2016
The company opened its 33rd Apple store in Qingdao, China.
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Plans/Strategy
Year: 2016
The company planned to introduce iPhone 5se with 4 inch display and new Watch accessories at March event.
Plans/Strategy
Year: 2016
The company planned to open center for developing iOS apps in Naples.
Plans/Strategy
Year: 2016
The company planned to open its office in Kanata.
Plans/Strategy
Year: 2016
Apple and Beats Electronics to release wireless earphones with iPhone 7.
Plans/Strategy
Year: 2016
The company planned to open stores in India.
Plans/Strategy
Year: 2016
The company to introduce two more Apple stores in China.
Plans/Strategy
Year: 2016
The company planned for opening its 30th retail outlet store in Xiamen, China.
Plans/Strategy
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Year: 2016
The company planned to expand its retail store in Latin America.
Plans/Strategy
Year: 2016
The company planned to introduce Apple car in next three years.
Plans/Strategy
Year: 2016
The company planned for opening its 25th retail store in China.
Contracts/Agreements
Year: 2016
The company and Deloitte partnered for the transformation of the business through iPhone and iPad.
New Products/Services
Year: 2016
The company introduced an update for its video editing app, Final Cut Pro X.
New Products/Services
Year: 2016
The company introduced the thinnest and lightest MacBook Pro.
Plans/Strategy
Year: 2016
The company plans to launch Apple AirPods.
New Products/Services
Year: 2016
The company introduced TV app for iPhone, iPad, and Apple TV in the US.
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Plans/Strategy
Year: 2016
The company plans to introduce a new 10.5-inch tablet, for the education sector and enterprises in the US.
Plans/Strategy
Year: 2016
The company plans to launch its research and development centers in Jakarta, Indonesia.
Corporate Changes/Expansions
Year: 2016
The company announced the reopening of its flagship Regent Street retail location in London, England.
New Products/Services
Year: 2016
The company launched its Apple Pay software in Russia.
Plans/Strategy
Year: 2016
The company planned to acquire stake in Nanyang Runtang New Energy, Zibo Runchuan New Energy, Shuozhou Pinglu Sineng Wind Power, and Qiaojia Tianqiao Wind Power.
Corporate Changes/Expansions
Year: 2016
The company announced the opening of its first store in Mexico, the US.
Corporate Changes/Expansions
Year: 2016
The company opened a retail store in in Arrowhead Towne Center, the US.
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Corporate Changes/Expansions
Year: 2016
The company opened a new store in Kwun Tong District, in Hong Kong.
Corporate Changes/Expansions
Year: 2016
The company announced the opening of new stores in Washington D.C. and Scottsdale, Arizona, the US.
Corporate Changes/Expansions
Year: 2016
The company announced the opening of second Chinese research lab, in the southern Chinese city of Shenzhen, China.
Corporate Changes/Expansions
Year: 2016
The company announced the opening of its brand new retail store at Vanke Mall in Qibao, in Shanghai, China.
Plans/Strategy
Year: 2016
The company announced plans to open a new store in Melbourne, Australia.
Corporate Changes/Expansions
Year: 2016
The company announced the opening of AI-Focused research and development center in Yokohama, Tokyo.
Corporate Changes/Expansions
Year: 2016
The company announced the opening of its third Parisian store, Paris.
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Corporate Changes/Expansions
Year: 2016
The company launched its mobile payment service, Apple Pay, in Spain.
Corporate Changes/Expansions
Year: 2016
The company opened a production unit in Bengaluru, India.
Plans/Strategy
Year: 2016
Mastercard plans to offer Apple Pay to provide its Spanish customers and cardholders, to transform mobile payments in easy, secure and private way.
Contracts/Agreements
Year: 2016
NBCUniversal partnered with Apple, to act as its exclusive U.S. seller for advertising Apple’s News app inventory and for the development of new advertising products.
Corporate Changes/Expansions
Year: 2016
The company announced to establish an iOS App design and development accelerator in Bengaluru, India to support engineering talent and accelerate growth in India’s iOS developer community.
Corporate Changes/Expansions
Year: 2016
The company announced the relocation of it's Liverpool ONE store.
Plans/Strategy
Year: 2016
Apple announced plans to open an iOS app development center in Italy, to provide students with practical skills and training on developing iOS apps for the app ecosystem.
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New Products/Services
Year: 2016
The company introduced iPhone 5SE with a four inch display. Apple introduced iPad Pro with a 9.7 inch display.
Contracts/Agreements
Year: 2016
Apple and SAP entered into a partnership to deliver a new iOS software development kit (SDK) and training academy for developers, partners and customers to build native iOS apps as per their business needs.
Plans/Strategy
Year: 2015
In December, the company planned to release multiple Beats radio stations.
Plans/Strategy
Year: 2015
In December, the company planned to release iPad Air 3.
Plans/Strategy
Year: 2015
In December, the company planned to introduce second-generation Apple Watch at March 2016 event.
Plans/Strategy
Year: 2015
In December, the company planned to introduce MacBook Pro 2016 and MacBook Air.
Plans/Strategy
Year: 2015
In November, the company to introduce 4-inch iPhone 6c in next year.
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Plans/Strategy
Year: 2015
In December, the company set to open its 28th store in Nanning, Guangxi, China.
Plans/Strategy
Year: 2015
In December, the company planned to introduce iPad Air 3 tablet.
Plans/Strategy
Year: 2015
In November, the company planned to introduce its Apple Pay service in China.
Corporate Changes/Expansions
Year: 2015
In November, the company announced opening of its 26th Apple Store in Chengdu, China.
Plans/Strategy
Year: 2015
In November, the company planned to introduce a new person-to-person mobile payments service.
Plans/Strategy
Year: 2015
In November, the company planned to launch 4-inch iPhone.
Contracts/Agreements
Year: 2015
In October, BBC to introduce iPlayer app for new Apple TV streaming device.
Plans/Strategy
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Year: 2015
In October, the company planned to introduce its Apple Pay service in Spain, Singapore and Hong Kong.
Corporate Changes/Expansions
Year: 2015
In October, the company introduced its Apple Pay services in Australia via American Express.
Plans/Strategy
Year: 2015
In October, the company planned to open its first store in Singapore.
Contracts/Agreements
Year: 2015
In October, Apple partnered with Croma to open first brick-and-mortar Apple store in India.
Corporate Changes/Expansions
Year: 2015
In October, the company introduced iPhone 6s in South Korea.
Corporate Changes/Expansions
Year: 2015
In October, the company introduced Apple watch in Saudi Arabia and United Arab Emirates.
Plans/Strategy
Year: 2015
In September, the company planned to introduce giant iPad alongside new iPhone.
Corporate Changes/Expansions
Year: 2015
In September, the company expanded its operations in Elk Grove, California.
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Plans/Strategy
Year: 2015
In September, the company planned to introduce Apple TV specially for games.
Contracts/Agreements
Year: 2015
In August, Apple selected FPT Shop and The gioi di dong as its two main retailers for directly import of its hi-tech products from Apple Singapore.
Corporate Changes/Expansions
Year: 2015
In August, the company opened its first Middle Eastern store in Dubai.
New Products/Services
Year: 2015
In August, the company introduced Siri-powered voice mail service.
Plans/Strategy
Year: 2015
In August, the company planned to introduce its own carrier service.
Plans/Strategy
Year: 2015
In July, the company planned for expansion of its retail presence in India with new retail store.
Plans/Strategy
Year: 2015
In July, the company planned to introduce Apple Watch in New Zealand, Russia and Turkey.
Plans/Strategy
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Year: 2015
In July, the company planned to introduce gold and rose gold colored versions of Apple Watch Sport, and a new iPad mini and iMacs.
Plans/Strategy
Year: 2015
In July, the company set to introduce iOS 9, a latest version of platform that drives the iPhone, iPad and iPad touch.
Plans/Strategy
Year: 2015
In June, the company planned to introduced Apple Pay in the UK.
New Products/Services
Year: 2015
In June, the company introduced Flipboard-style news app.
Plans/Strategy
Year: 2015
In June, the company planned to introduce Spotify-like streaming service.
Plans/Strategy
Year: 2015
In May, the company planned to open Apple Store in Xiamen.
Plans/Strategy
Year: 2015
In April, the company planned for opening its second store in Hangzhou, China.
Plans/Strategy
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Year: 2015
In April, the company planned to expand Oregon Data Center.
Contracts/Agreements
Year: 2015
IBM and Apple partnered to deliver iPads with IBM-developed apps and analytics to connect millions of seniors with services, healthcare, community and their families.
Contracts/Agreements
Year: 2015
Apple and China UnionPay entered into a partnership to bring Apple Pay to China, enabling China UnionPay cardholders to add their bank cards to Apple Pay on iPhone, Apple Watch and iPad.
New Products/Services
Year: 2015
Apple released Final Cut Pro 10.2, an updated version of Final Cut Pro X, Motion and Compressor with enhancements to accelerate video editing, packaging and delivery. The company launched ResearchKit, a software framework for medical and health research, available to researchers and developers.
New Products/Services
Year: 2015
The company unveiled Apple Music, an app for live radio and streaming music.
Contracts/Agreements
Year: 2015
Apple and Cisco entered into a partnership for iOS business users by optimising Cisco networks for iOS devices and apps, and integrating iPhone with Cisco enterprise environments.
New Products/Services
Year: 2015
Apple and Hermes introduced Apple Watch Hermes, a new collection of Apple Watch. In the same year, the company also introduced watchOS 2, Apple Pencil, iPhone 6s and iPhone 6s Plus.
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New Products/Services
Year: 2015
The company introduced Swift programming language as an open source, enabling developers, educational institutions, and enterprises to contribute to new Swift features and optimizations and bring Swift to new computing platforms.
Plans/Strategy
Year: 2014
Apple’s App Store planned to be closed for developers in the last week of December and give its app reviewers a week off during the holidays.
New Products/Services
Year: 2014
The company updated MacBook Pro with Retina display, faster processors and double memory in both entry-level configurations. The company also launched a new, lower starting price for the 15-inch notebook. During the year, Apple announced iOS 8 for the iPhone, iPad, and iPod touch users as a free software update. iOS 8 delivers a simpler, faster, and more intuitive user experience with new messages and photos features, predictive typing for Apple's QuickType keyboard, and Family Sharing. iOS 8 also includes the new Health app, a health and fitness data app and iCloud Drive, a cloud storage solution. Apple announced Apple Pay, a new mobile payment service that will allow users to pay with mobiles. The Apple Pay works with iPhone 6 and iPhone 6 Plus through a near field communication (NFC) antenna design, a dedicated chip called the Secure Element, and the security and convenience of Touch ID. The company launched iPhone 6 and iPhone 6 Plus models with 4.7-inch and 5.5-inch Retina HD displays, respectively. The company also unveiled Apple Watch, a new wearable device which enables users to communicate from the wrist and will include comprehensive health and fitness apps. Apple released iPhone 6 and iPhone 6 Plus in 36 additional countries and territories across Europe, Asia, the Middle East, Latin America and Africa. Apple launched 27-inch iMac with Retina 5K display, running on OS X Yosemite. At the end of the year, Apple launched iPad Air2, powered by the new Apple-designed A8X chip, and with improved Retina display.
New Products/Services
Year: 2014
The company launched updates for MacBook Air featuring faster processors at the same time lowering prices. The company's updates and pricing are expected to further drive the penetration of its notebook PCs. NTT Docomo and Apple announced the availability of iPad Air and iPad mini with Retina display on Docomo network. Apple announced OS X Yosemite, an enhanced version of OS X with enhanced features and new apps. Apple released iOS 8 software development kit (SDK), with 4,000 application
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programming interfaces (APIs) for the developers. Apple launched iOS 8 with new features such as iCloud Photo Library, a new messages app, the QuickType keyboard and a new Health app. Apple introduced a 21.5-inch iMac, enhancing its product lineup of entry-level Mac desktop. Apple launched the iTunes Radio in Australia. Subsequently, iPad Air and iPad mini with long term evolution (LTE) performance were made available in China.
Corporate Changes/Expansions
Year: 2014
Apple's iBooks Textbooks and iTunes U Course Manager expanded into new markets across Asia, Latin America and Europe, among others. With this, the company expanded worldwide access to educational content.
Contracts/Agreements
Year: 2014
Apple and IBM entered into a strategic partnership to transform enterprise mobility through new class of business apps, by introducing IBM's big data and analytics capabilities to iPhone and iPad.
Contracts/Agreements
Year: 2014
Apple agreed to acquire Beats Music and Beats Electronics. This acquisition is expected to enhance the company's music lineup.
Acquisitions/Mergers/Takeovers
Year: 2014
The company completed its previously announced acquisition of Beat Music and Beat Electronics.
New Products/Services
Year: 2013
The company launched the wireless fidelity (Wi-Fi) + Cellular versions of iPad mini and the new fourth generation iPad with Retina display, in China. Apple also launched the iBookstore in Japan featuring titles from independent publishers, including a selection of books from Kodansha, KADOKAWA, Bungeishunju, Gakken and Gentosha.Subsequently, the company launched iTunes Radio, a free internet radio service featuring over 200 stations and a catalog of music from the iTunes Store. During the year, Apple launched Logic Pro X which offers advanced tools and new interface designed to streamline the process of creating professional quality music. Apple launched the iPhone 5S and iPhone 5C smartphone models
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in the US, Australia, Canada, China, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the UK. Apple and NTT Docomo teamed up to offer the iPhone 5S and iPhone 5C in Japan. The company introduced the iOS 7, featuring a redesigned new user interface. This was made available to iPhone, iPad and iPod touch users as a free software update. The company launched the iPad Air, featuring 9.7-inch Retina display in a thinner and lighter design. This new version of iPad was another step ahead for Apple in its strategy to enhance the computing power of its tablet PC products. Subsequently, Apple introduced the iPhone 5S and iPhone 5C in Italy, Russia, Spain and more than 25 additional countries. At the end of the year, Apple launched the iPad mini with Retina display.
Contracts/Agreements
Year: 2013
Apple received a $30 million commitment from the US' second largest public school district, the Los Angeles School Board of Education's. As part of this phase which is the first phase of the larger roll out, the company began offering iPad to students across the school district.
Acquisitions/Mergers/Takeovers
Year: 2012
The company acquired Color Labs.
New Products/Services
Year: 2012
Apple launched its new third generation iPad in China in 2012. In the same year, the company introduced the new lineup of iPod touch and iPod nano. Subsequently, Apple introduced iPhone 5 smartphone. During the same year, the company introduced a version of its MacBook Pro featuring Retina display and flash storage in a new compact design. Apple introduced iPad mini, a smaller version of the iPad with 7.9- inch display.Subsequently, Apple launched the iTunes Store in Russia, Turkey, India, South Africa and 52 additional countries.
New Products/Services
Year: 2012
In 2012, the company launched its new iPhone 4S in China and 21 additional countries. To strengthen its presence in the education market, Apple launched iTunes U app, which provides educators and students access to teaching and taking entire courses on their iPad, iPhone and iPod touch. Subsequently, the company launched iBooks 2 for iPad, featuring iBooks textbooks. During the same year, the company launched its third generation of iPad. Apple previewed iOS 6, introducing over 200 new features to the mobile operating system, and released a beta version to iOS Developer Program members. The company updated MacBook Air with the latest Intel Core processors. Subsequently, Apple unveiled new 15-inch MacBook Pro featuring a Retina display. The company launched the iTunes Store in Hong Kong,
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Singapore, Taiwan and nine additional countries in Asia, in the same year.
Contracts/Agreements
Year: 2012
HTC and Apple reached a global settlement for the dismissal of all current lawsuits and a 10-year license agreement. The license extends to current and future patents held by both parties.
New Products/Services
Year: 2011
Apple launched the Mac App Store with more than 1,000 free and paid applications. Subsequently, Apple updated its MacBook Pro family with next generation processors and graphics, high-speed Thunderbolt I/O technology and a new FaceTime HD camera. During the same year, the company made iWork available for iPhone and iPod touch users. Apple launched iCloud, a set of free cloud services that work with applications on iPhone, iPad, iPod touch and Mac to automatically and wirelessly store content in iCloud and automatically and wirelessly push it to all devices. Further in 2011, the company unveiled the Apple Thunderbolt display, a display with Thunderbolt I/O technology for Mac notebook. The company launched its 4G iPhone and 5G iOS, in 2011. Apple launched iTunes Store in Brazil and in 15 other countries in Latin America during the same year.
New Products/Services
Year: 2010
Apple announced iPad, a high-resolution, multi-touch display device for browsing the web, reading, sending email, and viewing entertainment content. During the same year, the company previewed its iPhone OS 4 software and released a beta version of the software to iPhone Developer Program members. Apple introduced the new iPhone 4 featuring FaceTime, which allows video calling, and Apple's new Retina display which enhances the text, images and video. Subsequently, Apple released Safari 5.0.1 with extensions that supports allowing developers to create extensions with HTML5, CSS3 and JavaScript web standards. Also, Apple updated its all-in-one iMac line, with the Intel Core i3, Core i5 and Core i7 processors and new graphics.
New Products/Services
Year: 2010
Apple introduced iTunes 10 with Ping, a new music-oriented social network. The company announced the new Apple TV which allows viewers to watch high-definition (HD) movies and television (TV) shows. Apple introduced the Apple Store in China (apple.com.cn) which allows Chinese customers to shop online for Apple products. The company unveiled a new MacBook Air, in 2010. In the same year, iPad was made available at over 2,000 Verizon Wireless Stores in the US.
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Litigation
Year: 2010
Apple filed a lawsuit against HTC for infringing 20 of Apple's patents related to the iPhone's user interface, underlying architecture and hardware.
Corporate Changes/Expansions
Year: 2010
The company's iPad, was made available in the US, Australia, Canada, France, Germany, Italy, Japan, Spain, Switzerland and the UK, and sold 300,000 units on the first day of its launch in the US.
Contracts/Agreements
Year: 2010
Apple and the Dentsu Group formed a partnership to expand Apple's iAd mobile advertising network to Japan. As part of the agreement, Dentsu will be responsible for the sales and creative execution of iAds in Japan, and Apple will host, target and deliver the iAds to its iPhone and iPod touch users.
New Products/Services
Year: 2009
Apple introduced iWork '09, a new version of Apple's office productivity suite, and iLife '09, which features major upgrades to iPhoto, iMovie and GarageBand, and included iDVD and an updated version of iWeb. Subsequently, the company introduced the iPhone 3GS, Apple's third-generation smartphone with new features such as, longer battery life, high-quality three megapixel autofocus camera, easy to use video recording and hands free voice control. Later in the year, Apple launched its iTunes Store in Mexico with a selection of Mexican and international music from all the major labels and independent labels. The company updated its MacBook with light emitting diode (LED)-backlit display, Apple Multi-Touch track pad and built-in seven-hour battery, and subsequently, introduced its wireless Magic Mouse, the world's first mouse to use Apple's Multi-Touch technology.
New Products/Services
Year: 2008
The company introduced Mac Pro with eight processor cores, and MacBook Air, a thin notebook, which measures a maximum height of 0.76-inch. In the same year, Apple introduced Xsan 2, the first major upgrade to its enterprise class storage area network (SAN) file system for Mac OS X. Subsequently, the company introduced MobileMe, a new internet service that offers push email, push contacts and push calendars to native applications on iPhone, iPod touch, Macs and PCs. Also in 2008, Apple launched
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iPod touch.
New Products/Services
Year: 2007
The company introduced its new iPod touch.
New Products/Services
Year: 2007
Apple launched its revolutionary product, iPhone, a smartphone device, and also launched iPod nano, featuring two inch display.
Corporate Changes/Expansions
Year: 2007
The company changed its name from Apple Computer, Inc to Apple Inc., representing its expanding product portfolio and increased focus on consumer electronics market.
Contracts/Agreements
Year: 2007
Apple resolved its 'iPhone' trademark issue with Cisco Systems by entering into an agreement. According to the agreement, both the companies acknowledged the ownership rights and will use the trademark in their products.
Corporate Changes/Expansions
Year: 2006
Chrysler, in association with Apple, integrated iPod option in the audio systems in its 2006 models. In 2005, Apple sold its student information systems (SIS) division, PowerSchool, to Pearson.
Contracts/Agreements
Year: 2006
Apple teamed up with Air France, Continental, Delta, Emirates, KLM and United Airlines to integrate iPod with in-flight entertainment systems.
Divestiture
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Year: 2005
Apple sold its student information systems (SIS) division, PowerSchool, to Pearson.
Contracts/Agreements
Year: 2005
The company made an agreement to use Intel microprocessors in its Mac PCs. Later in the year, the company collaborated with Acura, Audi, Honda and Volkswagen to deliver iPod with their car stereos for 2006 model lines, and also introduced mobile phone with iTunes in collaboration with Motorola and Cingular Wireless.
Contracts/Agreements
Year: 2005
Ford, General Motors and Mazda teamed up with Apple to integrate iPod across their brand and models.
New Products/Services
Year: 2004
Apple introduced its fourth generation (4G) iPod portable digital music player.
Contracts/Agreements
Year: 2004
The company signed licensing agreements with three of the largest European independent music labels, Beggars Group, Sanctuary Records Group and V2, adding additional independent tracks from leading artists to the iTunes music store in the UK, France and Germany.
New Products/Services
Year: 2003
Apple launched its iTunes music store, an online store for downloading music tracks and albums.
Acquisitions/Mergers/Takeovers
Year: 2002
Apple pursued a number of acquisitions during 2002. The company acquired Prismo Graphics, Silicon
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Grail, certain assets of Zayante, and also acquired the German based specialist music software manufacturer, Emagic. Additionally, the company acquired certain assets of Nothing Real, a privately- held company engaged in the development of high performance tools designed for the digital image creation market.
Contracts/Agreements
Year: 2001
Soon after Mr. Jobs returned, the company entered into an agreement with Microsoft which was subsequently followed with the appearance of MS Office on Mac PCs.
Acquisitions/Mergers/Takeovers
Year: 2001
The company acquired PowerSchool, one of the providers of web-based student information systems for K-12 schools and school districts, and Spruce Technologies, a privately-held company involved in developing and marketing digital versatile disk (DVD) authoring products.
Corporate Changes/Expansions
Year: 1999
By 1999, all IT related services for ICICI Bank and certain of its subsidiaries were consolidated under ICICI Infotech.
Others
Year: 1997
Apple had incurred huge losses running into millions of dollars.
Divestiture
Year: 1997
The company divested its unsuccessful businesses as spin-offs. Among the spin-offs was Newton, its personal digital assistant (PDA) line of products.
Corporate Changes/Expansions
Year: 1997
Mr. Jobs, the co-founder returned as the interim Chief Executive Officer. Under his leadership, Apple
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reorganized to concentrate on its more profitable competencies.
Acquisitions/Mergers/Takeovers
Year: 1996
Apple acquired NeXT, and by virtue of which, its operating system (OS), Rhapsody, became Apple's next- generation OS.
New Products/Services
Year: 1990
By 1990, the market was flooded with cheap PC clones and Microsoft had launched Windows 3.0 and these factors further intensified competition. In 1994, the company launched the PowerPC chip based PowerMac, which allowed Mac to compete with the speed of Intel's PC processors. Apple still had problems though and in 1995, the company had a $1 billion order backlog. These problems were compounded by the launch of Windows 95. The company's performance nosedived during 1995-96 when it lost $68 million.
New Products/Services
Year: 1984
Apple introduced its first mouse driven PC, the Macintosh (Mac).
Contracts/Agreements
Year: 1984
Apple, Ericsson and Sun Microsystems formed an alliance to create a standard format for delivering multimedia content to wireless devices, such as smartphones and PDAs. The alliance combined Apple's QuickTime video creation software, Sun's content distribution software and hardware, and Ericsson's mobile infrastructure and services expertise.
Corporate Changes/Expansions
Year: 1983
By 1983, Apple faced stiff competition with the entry of International Business Machines Corporation (IBM) into the PC market, and the failure of its Apple III version computer.
Stock Listings/IPO
Year: 1980
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The company offered its initial public offering (IPO).
Management Changes
Year: 1980
In early 1980, competition from the personal computer (PC) market and internal difficulties led to critical management changes.
Incorporation/Establishment
Year: 1977
Apple Inc. (Apple or "the company") was incorporated.
New Products/Services
Year: 1976
The company was co-founded by Steven Wozniak and Steven P. Jobs. They introduced the first Apple I computer.
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Key Employees
KEY EMPLOYEES
Name Job Title Board Compensation Arthur D. Levinson Chairman Executive Board 556362 USD Brent Johnston Managing Director-Apple
Canada Senior Management
Jonathan Ive Chief Design Officer Senior Management 130000000 Tim Cook Chief Executive Officer, Director Executive Board 10300000 USD Isabel Ge Mahe Managing Director-Greater
China, Vice President-Wireless Technologies
Senior Management
Deirdre O'Brien Head-HR , Vice President- People
Senior Management
Luca Maestri Chief Financial Officer, Senior Vice President
Senior Management 25300000 USD
Jeff Williams Chief Operating Officer Senior Management 68700000 USD Matt Cherniss Head-Development - Worldwide
Video Unit Senior Management
James A. Bell Director Non Executive Board 70700000 USD Jay Hunt Creative Director, Europe Senior Management Albert Gore Jr. Director Non Executive Board USD Michel Coulomb Head of sales for its operations
in India Operational Management
Robert A. Iger Director Non Executive Board USD Katherine Adams General Counsel, Senior Vice
President Senior Management
Andrea Jung Director Non Executive Board USD Ronald D. Sugar Director Non Executive Board USD Susan L. Wagner Director Non Executive Board USD Dan Riccio Senior Vice President-Hardware
Engineering Senior Management USD
Johny Srouji Senior Vice President-Hardware Technologies
Senior Management
Eddy Cue Senior Vice President-Internet Software and Services
Senior Management USD
Angela Ahrendts Senior Vice President-Retail Senior Management USD Craig Federighi Senior Vice President-Software
Engineering Senior Management
Philip W. Schiller Senior Vice President-Wholesale Marketing
Senior Management
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Steve Dowling Vice President-Communications Senior Management Lisa Jackson Vice President-Environment,
Policy and Social Initiatives Senior Management
Tor Myhren Vice President-Marketing Communications
Senior Management
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Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
Arthur D. Levinson
Board:Executive Board Job Title:Chairman Since:2011 Age:67
Arthur D. Levinson has been the Chairman of Apple since 2011. Mr. Levinson has been a Director at the company since 2000. He has been the Chief Executive Officer at Calico since 2013. Mr. Levinson previously served as the Chairman, and Chief Executive Officer at Genentech. He served as the Chairman and Chief Executive Officer at large international public company, along with financial expertise and brand marketing experience.
Jonathan Ive
Board:Senior Management Job Title:Chief Design Officer Since:2017
Jonathan Ive currently serves as the Chief Design Officer at Apple. Mr. Ive joined the company in 1996 and led the company’s design team. He holds over 5,000 patents.
Tim Cook
Board:Executive Board Job Title:Chief Executive Officer, Director Since:2011 Age:57
Tim Cook has been the Chief Executive Officer and Director of Apple since 2011. Mr. Cook was the Chief Operating Officer at the company from 2005 to 2011. He joined the company in 1998 and served as the Executive Vice President, Worldwide Sales and Operations from 2002 to 2005. From 2000 to 2002, Mr. Cook served as the Senior Vice President, Worldwide Operations, Sales, Service and Support. From 1998 to 2000, he served as the Senior Vice President, Worldwide Operations. Prior to joining the company, Mr. Cook was the Vice President, Corporate Materials at Compaq. Prior to his work at Compaq, he was the Chief Operating Officer of the Reseller Division at Intelligent Electronics. Mr. Cook also spent 12 years at IBM, most recently as the Director of North American Fulfillment.
Luca Maestri
Board:Senior Management
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Job Title:Chief Financial Officer, Senior Vice President Since:2014 Age:54
Luca Maestri has been the Senior Vice President and Chief Financial Officer at Apple since 2014. Mr. Maestri joined the company in 2013 as the Vice President of Finance and Corporate Controller. Prior to joining Apple, he served as the Chief Financial Officer at Xerox and Nokia Networks. Mr. Maestri began his career at General Motors and served for 20 years in finance and operating roles in the Americas, Asia Pacific and Europe. He also served as the Chief Financial Officer for Operations in Europe at GM.
Jeff Williams
Board:Senior Management Job Title:Chief Operating Officer Since:2015 Age:54
Jeff Williams has been the Chief Operating Officer at Apple since 2015. Mr. Williams joined the company in 1998 as the Head of Worldwide Procurement and in 2004 became the Vice President of Operations. Prior to joining Apple, he worked at IBM from 1985 to 1998 in various operations and engineering roles.
James A. Bell
Board:Non Executive Board Job Title:Director Since:2015 Age:69
James A. Bell has been a Director at Apple since 2015. Previously, Mr. Bell served as the Senior Vice President and Executive Vice President of Finance; the Corporate President; the Chief Financial Officer; and the Corporate Controller at the Boeing Company. He also has been a Director at The Dow Chemical Company, JPMorgan Chase, and CDW Corporation.
Albert Gore Jr.
Board:Non Executive Board Job Title:Director Since:2003 Age:69
Albert Gore Jr. has been a Director at Apple since 2003. Mr. Gore served as the Vice President of the US. He has been the Chairman at Generation Investment Management since 2004, and serves as a Partner at Kleiner Perkins Caufield & Byers since 2007. Mr. Gore is also the Chairman at the Climate Reality Project, a non-profit organization devoted to solving the climate crisis.
Robert A. Iger
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Board:Non Executive Board Job Title:Director Since:2011 Age:67
Robert A. Iger has been a Director at Apple since 2011. Mr. Iger has been the Chairman and Chief Executive Officer at Walt Disney since 2012. Prior to that, he served as the President and Chief Executive Officer; and the President and Chief Operating Officer at Walt Disney. Mr. Iger served as the President at Walt Disney International and the Chairman at ABC from 1999 to 2000. From 1974 until 1998, he held a series of increasingly responsible positions at ABC and its predecessor, Capital Cities/ABC.
Andrea Jung
Board:Non Executive Board Job Title:Director Since:2008 Age:59
Andrea Jung has been a Director at Apple since 2008. Ms. Jung was the Chairman of the Board and Chief Executive Officer at Avon Products from 2001 to 2012. She has been a Director at General Electric since 1998 and a Member of the Supervisory Board at Daimler since 2013. She has been the President and Chief Executive Officer at Grameen America since 2014.
Ronald D. Sugar
Board:Non Executive Board Job Title:Director Since:2010 Age:69
Ronald D. Sugar has been a Director at Apple since 2010. Dr. Sugar is the retired Chairman of the Board and Chief Executive Officer at Northrop Grumman. Prior to Northrop Grumman, he served as the Chief Financial Officer at TRW. Dr. Sugar is a Senior Advisor to various businesses and organizations, including Ares Management, Bain & Company, Temasek Americas Advisory Panel, the G100 Network, and the World 50. He also serves as a Director at Air Lease, Amgen and Chevron.
Susan L. Wagner
Board:Non Executive Board Job Title:Director Since:2014 Age:56
Susan L. Wagner has been a Director at Apple since 2014. Ms. Wagner co-Founded BlackRock and held a range of leadership positions including as the Vice Chairman until 2012. She currently serves on the
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Boards at BlackRock and Swiss Re.
Dan Riccio
Board:Senior Management Job Title:Senior Vice President-Hardware Engineering Since:2012 Age:55
Dan Riccio has been the Senior Vice President of Hardware Engineering at Apple since 2012. Mr. Riccio joined the company in 1998 as the Vice President of Product Design and in 2010 became the Vice President of iPad Hardware Engineering. Prior to Apple, he worked at Compaq Computer as the Senior Manager of Mechanical Engineering. Mr. Riccio holds a Bachelor's degree in Mechanical Engineering from the University of Massachusetts Amherst.
Johny Srouji
Board:Senior Management Job Title:Senior Vice President-Hardware Technologies Since:2015 Age:53
Johny Srouji has been the Senior Vice President of Hardware Technologies at Apple since 2015. Mr. Srouji joined the company in 2008. He served as the Vice President of Hardware Technologies, and Vice President, VLSI (Very Large Scale Integration) at the company. Prior to joining Apple, Mr. Srouji worked in various engineering roles at IBM and Intel.
Eddy Cue
Board:Senior Management Job Title:Senior Vice President-Internet Software and Services Since:2011 Age:53
Eddy Cue has been the Senior Vice President of Internet Software and Services at Apple since 2011. Mr. Cue joined the company in 1989. Mr. Cue held various positions at Apple, including as the Vice President of Internet Services and the Senior Director of iTunes Operations. He served as a Director at Ferrari.
Angela Ahrendts
Board:Senior Management Job Title:Senior Vice President-Retail Since:2014 Age:57
Angela Ahrendts has been the Senior Vice President of Retail at Apple since 2014. Ms. Ahrendts joined
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Apple from Burberry, where she served as the Chief Executive Officer. Prior to Burberry, she was an Executive Vice President at Liz Claiborne, and the President at Donna Karan International. She was also a member of the UK's Prime Minister's Business Advisory Council from 2010 to 2015.
Craig Federighi
Board:Senior Management Job Title:Senior Vice President-Software Engineering Since:2012 Age:48
Craig Federighi has been the Senior Vice President of Software Engineering at Apple since 2012. Mr. Federighi held several positions at Ariba, including the Chief Technology Officer and the Vice President of Internet Services. Before Ariba, he worked at NeXT and at Apple upon the acquisition of NeXT. Mr. Federighi also served as the Vice President of Mac OS Engineering and as the Director of Engineering at the company.
Philip W. Schiller
Board:Senior Management Job Title:Senior Vice President-Wholesale Marketing Since:2002 Age:57
Philip W. Schiller has been the Senior Vice President of Wholesale Marketing at Apple since 2002. Mr. Schiller was the Vice President of Product Marketing at Macromedia from 1995 to 1997 and the Director of Product Marketing at FirePower Systems from 1993 to 1995. Prior to that, he spent six years at Apple in various marketing positions. Mr. Schiller has also served as a Director at Illumina since 2016.
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Major Products & Services
MAJOR PRODUCTS & SERVICES
Apple Inc. (Apple) designs, manufactures, and markets mobile communication and media devices, personal computers (PCs), and portable digital music players, and sells a variety of related software, services, accessories, networking solutions, and third-party digital content and applications. The company's major products and brands include the following:
Products:
Mobile Communication and Media Devices Personal Computing Products Portable Digital Music Players Televisions Peripheral Products Networking Solutions Third-party Hardware and Software Products Mobile Operating Systems Desktop Operating Systems Server and Application Software
Brands:
iPhone iPad Mac iMac iPod iTunes Mac App Store iCloud iOS OS X iLife iWork Apple TV Apple Watch Apple Pay Beats GarageBand Logic Pro Touch Bar MacBook Pro
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SWOT Analysis
SWOT ANALYSIS
Apple Inc. (Apple) designs, manufactures, and markets mobile communication and media devices, and personal computers (PCs). Strong horizontal and vertical integration, research and development activities, and extensive distribution channels are the company’s main strengths, whereas Dependence on iPhone and iPad product lines, and legal proceedings remains as major areas of concern. In the future, intense competition, premium pricing could limit growth in emerging markets, and complex and challenging environment could impact market position could affect its business operations. However, growing North American smartphone market, smart wearable devices market, focus on artificial intelligence, and growing Apple Pay market are likely to provide growth opportunities to the company.
Strength
Formidable Competitive Advantages through Horizontal and Vertical Integration Strong Research and Development Capabilities Robust and Extensive Distribution Channels
Weakness
High Dependence on iPhone and iPad Product Lines Legal Proceedings
Opportunity
North American Smartphone Market Smart Wearable Devices Market Offers Robust Growth Opportunities Focus of Artificial Intelligence Apple Pay Provides Robust Growth Opportunity
Threat
Premium Pricing Could Limit Growth in Emerging Markets Operating in Complex and Challenging Environment Could Impact Market Position Competitive Pressures
Strength
Formidable Competitive Advantages through Horizontal and Vertical Integration
Apple has over the years followed integration both horizontally and vertically and as a result emerged as a formidable competitor. The company's multiple devices provide horizontal integration. Apple has presence across main digital media devices of computing and mobile communications. Through PCs, tablets, smartphones and other devices, Apple aimed at offering a whole range of associate products and devices. Apple through vertical integration connected the user experience across the devices. The company offers hardware, software, content, services and also retails its products creating vertical integration. In addition, the company built strong software and content business which equipped Apple with several competitive advantages. The company's operating system spans across multiple devices and includes content and application. Consequently, switching to a competitor becomes difficult due to the dependence on iOS. Another key integration aspect that has enabled Apple to gain competitive advantage is the content offering. The company's iTunes Store, App Store, iBooks Store and Apple Music enables users to purchase, organize and share digital content and apps. In addition to the above, the company has a strong retail presence. This helps Apple to have control over successfully positioning its
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products to the end user.
Apple has followed a vertical integration strategy to build a formidable competitive advantage. The company's business strategy leverages its unique ability to design and develop its own operating systems, hardware, application software, and services. The vertical integration provides control over the entire user experience or process from hardware to software which facilitates higher customer loyalty and provides lock-in. The vertical integration that Apple achieved is difficult to replicate as evidenced in recent times. None of the company's competitors were able to replicate this model with resonating success as Apple. This provides Apple with significant competitive advantages. Apple's customized in-house chip design, well integrated hardware, software, applications and service equips the company with an ability to create high quality products that are unmatched in the industry. Apple's vertical integration strategy enabled it to create products which are providing the customers with what it calls a good product experience.
Apple enjoys a favorable competitive environment provided by the user dependence on iOS which enables it to earn incremental earnings by offering all associated devices. In the era of convergence this is a sustainable competitive advantage. Apple's sustainability of market share stems from the fact that it was able to successfully connect its devices with each other and one generation of devices with the next. Through these integration models, Apple built sustainable competitive advantages that are hard to replicate.
Strong Research and Development Capabilities
The company has strong research and development (R&D) capabilities. Apple has been consistently spending on the R&D functions. It devotes significant resources and attention to develop consumer- preferred products. The company’s ability to compete successfully depends heavily upon its ability to ensure a continual and timely flow of competitive products, services and technologies to the marketplace. Apple continues to develop new technologies to enhance existing products and to expand the range of its product offerings through R&D, licensing of intellectual property and acquisition of third-party businesses and technology. The company spent $11.6 billion, $10 billion, and $8.1 billion on R&D in FY2017, FY2016, and FY2015, respectively on R&D. The strong R&D capabilities allowed the company to introduce new products. For instance, in November 2017, the company launched iPhone X, a smartphone with offers including wireless charging, face ID, a new method using advanced technologies to scan the user's face to unlock the device. In March 2017, Apple launched contactless payment service, which helps to pay for items in-store, online or through apps. Strong R&D capabilities provide a competitive advantage to the company by enabling it to launch new products that effectively enhance revenues and market share.
Robust and Extensive Distribution Channels
The company has robust and extensive distribution channels. It uses both direct and indirect distribution channels to effectively reach its customers primarily in the consumer, small and mid-sized business, education, enterprise, and government markets. The company sells its products and resells third-party products in most of its major markets directly to consumers and small and mid-sized businesses through its retail and online stores and its direct sales force. The company has been continuously improving its distribution capabilities by expanding the number of its own retail stores worldwide. The company’s retail
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stores are typically located at high-traffic locations in quality shopping malls and urban shopping districts. By operating its own stores and locating them in desirable high-traffic locations the company is better positioned to ensure a high quality customer buying experience and attract new customers. The stores are designed to simplify and enhance the presentation and marketing of the company’s products and related solutions. Few of its rivals have their own physical retail stores and none have such a vast network of them. Apple also employs a variety of indirect distribution channels, such as third-party cellular network carriers, wholesalers, retailers and value-added resellers. Apple has invested extensively in programs to enhance reseller sales by placing quality Apple fixtures, merchandising materials and other resources within selected third-party reseller locations. Through the Apple Premium Reseller Program, certain third-party resellers focus on the Apple platform by providing a high level of product expertise, integration and support services. The company also supports mobile learning and real-time distribution of, and access to, education related materials through iTunes U, a platform that allows students and teachers to share and distribute educational media online. The company also sells its hardware and software products to enterprise and government customers in each of its reportable operating segments. Thus, the robust and extensive distribution capabilities of Apple enhance its customer reach and provide incremental growth opportunities.
Weakness
High Dependence on iPhone and iPad Product Lines
The company's revenues and growth rates are largely dependent on iPhone and iPad product lines. The iPhone and iPad product lines together accounted for 70% of the total revenues in FY2017. Although, these product lines have been the growth drivers for the company, any future decline in the growth rates could impact the company's performance. Dependence on few product lines increases the business risk, especially in an industry characterized by fast paced technological changes. The market share losses of key products could have a material adverse impact on the company's growth prospects.
Legal Proceedings
The company is a defendant in several lawsuits. In December 2017, Apple faced a lawsuit, which alleges that the company did not disclose that its there is a slow down in its software updates in older-model phones, which resulted in shortage of battery life. In the same month, fraud lawsuits were filed against Apple. The lawsuit alleges that the company made a fraud promise through concealment and unfair business practices. In October 2017, Emonster, a Japanese company filed a lawsuit against Apple. The lawsuit alleges that the company used Animoji, which is a trademark of Emonster, to its iPhone X feature. The company has to continuously follow through these litigations and it also increases operational costs. Lawsuits could result in penalties and fines, which increase in its operating costs.
Opportunity
North American Smartphone Market
The deployment of high speed 4G technology, increase in the usage of over-the-top content (OTT) and
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social media services are expected to drive smartphone adoption across North America. According to in- house research, smartphone sales in North America are expected to increase from 168.8 million in 2015 to 194.2 million in 2021, at a CAGR of 3% during 2016-2021. Smartphones are estimated to account for 93.3% of the total mobile handset sales during the forecast period. In terms of revenue, smartphones could account for 98.7% of the total mobile handset revenue. Apple’s portfolio includes iPhone, iPad, Mac, Apple Watch, Apple TV. It also offers consumer and professional software applications including iOS, macOS, watchOS and tvOS operating systems, iCloud, and Apple Pay. In FY2017, Apple sold approximately 216.7 million iPhones. Robust outlook for the smartphone market will increase the company's sales in the coming years.
Smart Wearable Devices Market Offers Robust Growth Opportunities
The market for wearable devices has been growing strongly over the past few years. According to in- house research, the wearable devices market size is expected to reach a value of $15 billion by 2026 growing at a CAGR of over 23% during 2016-23 periods. Apple is keen to benefit from the growth opportunities offered by these end markets. The company launched Apple Watch in 2014. Apple Watch is a personal electronic device that combines a watch technology with an iOS-based user interface created specifically for a smaller device. Apple Watch features Digital Crown, a navigation tool that allows users to scroll, zoom and navigate. It enables customers to communicate in new ways from their wrist and features Force Touch, a technology that senses the difference between a tap and a press and allows users to access controls within apps. The company has been enhancing its Watch devices over the years. For instance, in 2017, Apple and Nike launched Apple Watch Nike+. Apple is well positioned to tap the growing markets and enable revenue growth in the future.
Focus of Artificial Intelligence
The company could benefit from its services and initiatives to strengthen its artificial intelligence portfolio. Apple took several initiatives to strengthen its portfolio. In September 2017, the company acquired Regaind, a French artificial intelligence startup. This acquisition helps Apple to add intelligent search to the Photos app on iPhone. In March 2017, the company acquired DeskConnect, a tool that lets the customers to hook together apps and functions within apps in strings of commands to automate tasks. This initiative helps Apple to strengthen its application portfolio. Increasing focus on artificial intelligence portfolio could enable the company to strengthen its market position and improve its financial performance.
Apple Pay Provides Robust Growth Opportunity
Apple Pay is expected to provide incremental growth opportunities for the company. Apple Pay, the company’s mobile payment services works with iPhone, Apple Watch, iPad or Mac through a Near Field Communications (NFC) antenna design, a dedicated chip called the secure element, and the Touch ID. Apple Pay does not require Apple Pay-specific contactless payment terminals, and can work with existing contactless terminals. Apple Pay allows users to add their credit or debit card on file from their iTunes Store account. Apple Pay also works with the Apple Watch. It was initially launched in the US and the UK. Currently Apple Pay is available in 15 countries, including the US, UK, China, Australia, Canada, Singapore, France, Russia, Japan, among others. The Apple Pay is expected to provide new growth opportunities for the company in the medium to long term. According to in-house report, the mobile pay
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market was valued at approximately $90 billion in 2017. Apple Pay is an extension of the company's iOS ecosystem, which makes it a disruptive player in the fast growing mobile payments industry. In the review year, the company's Apple pay partnered with Santander MasterCard credit and debit cards to provide access to make payments. In October, the company plans to provide secure mobile payments through apple pay inbuilt with EMV tokenization software and assisted by Rambus in partnership with eftpos. The strong outlook for the end market coupled with Apple's robust smartphone market share and iTunes accounts provides incremental growth opportunities to enhance revenues and market share.
Threat
Premium Pricing Could Limit Growth in Emerging Markets
Price can be one of the key competitive disadvantages of Apple that the competitors can effectively use to gain market share. This will prove to be a challenge while addressing the emerging markets, which become important as the advanced economies' smartphone markets attain maturity. The emerging markets lack carrier subsidies and the customer base in these markets is highly price sensitive and therefore competing with lower priced Android products could be a challenge. The revenues from emerging market for Apple products will come from a higher mix of older models. This indicates that as the smartphone markets move towards emerging countries, the average prices will start to fall, impacting the margins. The company has been facing marginal declines in average price per product. Apple has not been able to effectively gain market share in emerging markets where historically, lower priced phones are popular. Apple's premium pricing strategy will prove to be challenging and could have a negative impact on the company's gross margins.
Operating in Complex and Challenging Environment Could Impact Market Position
The markets for the company's products and services are highly competitive and complex, and Apple is confronted by aggressive competition and challenges in all areas of its business. These markets are characterized by frequent product introductions and rapid technological advances that have substantially increased the capabilities and use of mobile communication and media devices, PCs, and other digital electronic devices. Apple faces intense competition from well-funded and experienced peers such as Microsoft, Google and Samsung, among others. Google's Android platform is one of the largest mobile operating systems and the Windows is also estimated to capture increased market shares. In addition to Microsoft and Google, the company competes intensively with Samsung, which has approximately twice the market share of Apple. The company's other competitor Lenovo offers a strong line of ThinkPad tablets and IdeaPad Yoga. Lenovo is well positioned to dent the market share of Apple in China. In addition, freely available music and videos and easier-to-use subscription service such as Spotify or Netflix could also dent the company's market share, as Apple sells this content through iTunes. Apple is also facing challenges in its overseas markets. In China, the government has announced plans to build its own Linux-based processor to reduce reliance on Apple's computers. In India, which is one of the largest addressable consumer markets in the world, Apple has been facing trouble to establish its stores because of stringent local market laws. Operating in such complex and challenging environment could have a negative impact on the market shares and growth rates at Apple.
Competitive Pressures
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The company’s products and services compete in highly competitive global markets characterized by aggressive price cutting and resulting downward pressure on gross margins, continual improvement in product price/performance characteristics, frequent introduction of new products, evolving industry standards, rapid adoption of technological and product advancements by competitors, short product life cycles and price sensitivity of consumers. Apple continuously and timely introduces innovative new products and technologies including the operating system, hardware, numerous software applications and related services, whereas many of its competitors seek to compete primarily through aggressive pricing and very low cost structures. Apple’s ability to maintain a competitive advantage could be adversely affected if it is unable to develop and sell innovative new products with attractive margins. The company also faces substantial competition in the operating system market from companies that have significant technical, marketing, distribution, established hardware, software and digital content supplier relationships. This market has been dominated by computer makers using competing operating systems, primarily Windows. The competitors selling Windows-based personal computers cut prices and lowered product margins. The company’s financial condition and operating results also depend on its ability to continually improve the Mac platform to maintain its functional and design advantages.
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Top Competitors
TOP COMPETITORS
The following companies are the major competitors of Apple Inc
Acer Incorporated Alphabet Inc BlackBerry Ltd Dell Inc. Fujitsu Limited HP Inc. International Business Machines Corporation LG Electronics, Inc. Microsoft Corporation Samsung Electronics Co., Ltd. Sony Corporation Toshiba Corporation
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Company View
COMPANY VIEW
An excerpt from the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section is given below. The statement has been taken from the company's 10-K filing for FY2017.
Overview and Highlights
The Company designs, manufactures and markets mobile communication and media devices and personal computers, and sells a variety of related software, services, accessories, networking solutions and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iOS, macOS, watchOS and tvOS operating systems, iCloud, Apple Pay and a variety of accessory, service and support offerings. The Company sells and delivers digital content and applications through the iTunes Store, App Store, Mac App Store, TV App Store, iBooks Store and Apple Music (collectively “Digital Content and Services”). The Company sells its products worldwide through its retail stores, online stores and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers and value-added resellers. In addition, the Company sells a variety of third-party Apple-compatible products, including application software and various accessories through its retail and online stores. The Company sells to consumers, small and mid-sized businesses and education, enterprise and government customers.
Fiscal 2017 Highlights
Net sales increased 6% or $13.6 billion during 2017 compared to 2016, primarily driven by growth in Services, iPhone and Mac. The year-over-year increase in net sales reflected growth in each of the geographic operating segments, with the exception of Greater China. The weakness in foreign currencies relative to the U.S. dollar had an unfavorable impact on net sales during 2017 compared to 2016. In May 2017, the Company announced an increase to its capital return program by raising the expected total size of the program from $250 billion to $300 billion through March 2019. This included increasing its share repurchase authorization from $175 billion to $210 billion and raising its quarterly dividend from $0.57 to $0.63 per share beginning in May 2017. During 2017, the Company spent $33.0 billion to repurchase shares of its common stock and paid dividends and dividend equivalents of $12.8 billion. Additionally, the Company issued $24.0 billion of U.S. dollar-denominated term debt, €2.5 billion of euro-denominated term debt and C$2.5 billion of Canadian dollar-denominated term debt during 2017.
Fiscal 2016 Highlights
Net sales declined 8% or $18.1 billion during 2016 compared to 2015, primarily driven by a year-over- year decrease in iPhone net sales and the effect of weakness in most foreign currencies relative to the U.S. dollar, partially offset by an increase in Services. In April 2016, the Company announced an increase to its capital return program by raising the expected total size of the program from $200 billion to $250 billion through March 2018. This included increasing its share repurchase authorization from $140 billion to $175 billion and raising its quarterly dividend from $0.52 to $0.57 per share beginning in May 2016. During 2016, the Company spent $29.0 billion to repurchase shares of its common stock and paid
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dividends and dividend equivalents of $12.2 billion. Additionally, the Company issued $23.9 billion of U.S. dollar-denominated term debt and A$1.4 billion of Australian dollar-denominated term debt during 2016.
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Locations And Subsidaries
LOCATIONS AND SUBSIDARIES
Head Office
Apple Inc 1 Infinite Loop Cupertino California Cupertino California USA Phone:1 4089961010 www.apple.com
Other Locations and Subsidiaries
Apple Sydney Sydney South New South Wales 1235 133-622 AUS
Apple Asia Ltd 2401 Tower One Times Square Causeway Bay HKG Phone:852 25068888
Apple Canada Inc. 120 Bremner Boulevard Suite 1600 Ontario M5J 0A8 CAN Phone:1 647 943 4400
Apple Distribution International Hollyhill Industrial Estate Hollyhill Cork IRL
Apple Inc Birmingham Alabama Birmingham Alabama USA
Apple Inc Burlingame California Burlingame California USA
Apple Inc Calgary Alberta Calgary Alberta CAN
Apple Inc Galerie Augsburg Galerie Augsburg DEU
Apple Inc Gilbert Arizona
Apple Inc Huntsville Alabama
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Gilbert Arizona USA
Huntsville Alabama USA
Apple Inc Schaumburg Illinois Schaumburg Illinois USA
Apple India Private Limited 19 Floor Concorde Tower C UB City No 24 Vittal Mallya Road Bangalore 560-001 IND
Apple Operations Europe Hollyhill Industrial Estate Hollyhill Cork Munster Cork Munster IRL
Apple Operations International Hollyhill Industrial Estate Cork Munster Cork Munster IRL
Apple Sales International Hollyhill Industrial Estate Hollyhill Cork Munster Cork Munster IRL
Apple South Asia Pte Ltd 7 Ang Mo Kio Street 64 Singapore 569086 SGP Phone:65 64815511
Apple UK Ltd Stockley Park East Uxbridge Middlesex Uxbridge Middlesex GBR www.apple.com/uk
Beddit.com Oy ALA
Braeburn Capital, Inc. Reno Nevada Reno Nevada USA
DeskConnect, Inc. (Workflow) USA
PowerbyProxi Limited 111 Franklin Road Freemans Bay Auckland Auckland
SensoMotoric Instruments GmbH Warthestrasse. 21 Teltow Teltow DEU
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Auckland Auckland NZL Phone:64 9 914 8311 Fax:64 9 914 8315 www.powerbyproxi.com
Phone:49 3328 3955 10 Fax:49 3328 3955 99 www.smivision.com
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Financial Overview
FINANCIAL OVERVIEW
Summarized Statement *Note: Eliminations not included, all figures in Million except per share data.
Parameters Currency 2013 2014 2015 2016 2017 Income Statements Total Revenue USD 170,910.00 182,795.00 233,715.00 215,639.00 229,234.00 Gross Profit USD 64,304.00 70,537.00 93,626.00 84,263.00 88,186.00 Operating Income USD 48,999.00 52,503.00 71,230.00 60,024.00 61,344.00 Net Income USD 37,037.00 39,510.00 53,394.00 45,687.00 48,351.00 Diluted Normalized EPS USD 5.68 6.45 9.22 8.31 9.21 Balance Sheet Total Current Assets USD 73,286.00 68,531.00 89,378.00 106,869.00 128,645.00 Total Assets USD 207,000.00 231,839.00 290,345.00 321,686.00 375,319.00 Total Current Liabilities USD 43,658.00 63,448.00 80,610.00 79,006.00 100,814.00 Total Liabilities USD 83,451.00 120,292.00 170,990.00 193,437.00 241,272.00 Total Equity USD 123,549.00 111,547.00 119,355.00 128,249.00 134,047.00 Total Common Shares Outstanding
USD 6,294.37 5,866.16 5,578.75 5,336.17 5,126.20
Cash Flow Cash from Operating Activities
USD 53,666.00 59,713.00 81,266.00 65,824.00 63,598.00
Cash from Investing Activities
USD -33,774.00 -22,579.00 -56,274.00 -45,977.00 -46,446.00
Cash from Financing Activities
USD -16,379.00 -37,549.00 -17,716.00 -20,483.00 -17,347.00
Net Change in Cash USD 3,513.00 -415.00 7,276.00 -636.00 -195.00
Detailed Statement *Note: Eliminations not included, all figures in Million except per share data.
Parameters Currency 2013 2014 2015 2016 2017 Income Statements Revenue USD 170,910.00 182,795.00 233,715.00 215,639.00 229,234.00 Total Revenue USD 170,910.00 182,795.00 233,715.00 215,639.00 229,234.00 Cost of Revenue, Total USD 106,606.00 112,258.00 140,089.00 131,376.00 141,048.00 Gross Profit USD 64,304.00 70,537.00 93,626.00 84,263.00 88,186.00 Selling/ General/ Admin. USD 10,830.00 11,993.00 14,329.00 14,194.00 15,261.00
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Expenses, Total Research & Development USD 4,475.00 6,041.00 8,067.00 10,045.00 11,581.00 Total Operating Expense USD 121,911.00 130,292.00 162,485.00 155,615.00 167,890.00 Operating Income USD 48,999.00 52,503.00 71,230.00 60,024.00 61,344.00 Other, Net USD -24.00 -311.00 -903.00 -1,195.00 -133.00 Net Income Before Taxes USD 50,155.00 53,483.00 72,515.00 61,372.00 64,089.00 Provision for Income Taxes USD 13,118.00 13,973.00 19,121.00 15,685.00 15,738.00 Net Income After Taxes USD 37,037.00 39,510.00 53,394.00 45,687.00 48,351.00 Net Income Before Extra. Items
USD 37,037.00 39,510.00 53,394.00 45,687.00 48,351.00
Net Income USD 37,037.00 39,510.00 53,394.00 45,687.00 48,351.00 Income Available to Com Excl ExtraOrd
USD 37,037.00 39,510.00 53,394.00 45,687.00 48,351.00
Income Available to Com Incl ExtraOrd
USD 37,037.00 39,510.00 53,394.00 45,687.00 48,351.00
Dilution Adjustment USD 0.00 0.00 0.00 0.00 0.00 Diluted Net Income USD 37,037.00 39,510.00 53,394.00 45,687.00 48,351.00 Diluted Weighted Average Shares
USD 6,521.50 6,122.66 5,793.07 5,500.28 5,251.69
Diluted EPS Excluding ExtraOrd Items
USD 5.68 6.45 9.22 8.31 9.21
Diluted Normalized EPS USD 5.68 6.45 9.22 8.31 9.21 DPS - Common Stock Primary Issue
USD 1.63 1.81 1.98 2.18 2.40
Balance Sheet Cash USD 8,705.00 10,232.00 11,389.00 8,601.00 7,982.00 Cash & Equivalents USD 0.00 0.00 0.00 3,666.00 6,534.00 Short Term Investments USD 31,841.00 14,845.00 30,212.00 54,888.00 59,665.00 Cash and Short Term Investments
USD 40,546.00 25,077.00 41,601.00 67,155.00 74,181.00
Accounts Receivable - Trade, Net
USD 13,102.00 17,460.00 16,849.00 15,754.00 17,874.00
Total Receivables, Net USD 20,641.00 27,219.00 30,343.00 29,299.00 35,673.00 Total Inventory USD 1,764.00 2,111.00 2,349.00 2,132.00 4,855.00 Other Current Assets, Total USD 10,335.00 14,124.00 15,085.00 8,283.00 13,936.00 Total Current Assets USD 73,286.00 68,531.00 89,378.00 106,869.00 128,645.00 Property/ Plant/ Equipment, Total - Gross
USD 28,519.00 39,015.00 49,257.00 61,245.00 75,076.00
Accumulated Depreciation, Total
USD -11,922.00 -18,391.00 -26,786.00 -34,235.00 -41,293.00
Property/ Plant/ Equipment, USD 16,597.00 20,624.00 22,471.00 27,010.00 33,783.00
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Total - Net Goodwill, Net USD 1,577.00 4,616.00 5,116.00 5,414.00 5,717.00 Intangibles, Net USD 4,179.00 4,142.00 3,893.00 3,206.00 2,298.00 Long Term Investments USD 106,215.00 130,162.00 164,065.00 170,430.00 194,714.00 Other Long Term Assets, Total
USD 5,146.00 3,764.00 5,422.00 8,757.00 10,162.00
Total Assets USD 207,000.00 231,839.00 290,345.00 321,686.00 375,319.00 Accounts Payable USD 22,367.00 30,196.00 35,490.00 37,294.00 49,049.00 Accrued Expenses USD 4,782.00 7,689.00 24,169.00 20,951.00 25,744.00 Notes Payable/ Short Term Debt
USD 0.00 6,308.00 8,499.00 8,105.00 11,977.00
Current Port. of LT Debt/ Capital Leases
USD 0.00 0.00 2,500.00 3,500.00 6,496.00
Other Current liabilities, Total USD 16,509.00 19,255.00 9,952.00 9,156.00 7,548.00 Total Current Liabilities USD 43,658.00 63,448.00 80,610.00 79,006.00 100,814.00 Long Term Debt USD 16,960.00 28,987.00 53,329.00 75,427.00 97,207.00 Total Long Term Debt USD 16,960.00 28,987.00 53,329.00 75,427.00 97,207.00 Total Debt USD 16,960.00 35,295.00 64,328.00 87,032.00 115,680.00 Deferred Income Tax USD 16,489.00 20,259.00 24,062.00 26,019.00 31,504.00 Other Liabilities, Total USD 6,344.00 7,598.00 12,989.00 12,985.00 11,747.00 Total Liabilities USD 83,451.00 120,292.00 170,990.00 193,437.00 241,272.00 Common Stock, Total USD 19,764.00 23,313.00 27,416.00 31,251.00 35,867.00 Retained Earnings (Accumulated Deficit)
USD 104,256.00 87,152.00 92,284.00 96,364.00 98,330.00
Unrealized Gain (Loss) USD -175.00 1,364.00 772.00 38.00 -124.00 Other Equity, Total USD -296.00 -282.00 -1,117.00 596.00 -26.00 Total Equity USD 123,549.00 111,547.00 119,355.00 128,249.00 134,047.00 Total Liabilities & Shareholders' Equity
USD 207,000.00 231,839.00 290,345.00 321,686.00 375,319.00
Total Common Shares Outstanding
USD 6,294.37 5,866.16 5,578.75 5,336.17 5,126.20
Cash Flow Net Income/ Starting Line USD 37,037.00 39,510.00 53,394.00 45,687.00 48,351.00 Depreciation/ Depletion USD 6,757.00 7,946.00 11,257.00 10,505.00 10,157.00 Deferred Taxes USD 1,141.00 2,347.00 1,382.00 4,938.00 5,966.00 Non-Cash Items USD 2,253.00 2,863.00 3,586.00 4,210.00 4,674.00 Changes in Working Capital USD 6,478.00 7,047.00 11,647.00 484.00 -5,550.00 Cash from Operating Activities
USD 53,666.00 59,713.00 81,266.00 65,824.00 63,598.00
Capital Expenditures USD -9,076.00 -9,813.00 -11,488.00 -13,548.00 -12,795.00 Other Investing Cash Flow USD -24,698.00 -12,766.00 -44,786.00 -32,429.00 -33,651.00
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Items, Total Cash from Investing Activities
USD -33,774.00 -22,579.00 -56,274.00 -45,977.00 -46,446.00
Financing Cash Flow Items USD -381.00 -419.00 -750.00 -1,163.00 -1,247.00 Total Cash Dividends Paid USD -10,564.00 -11,126.00 -11,561.00 -12,150.00 -12,769.00 Issuance (Retirement) of Stock, Net
USD -22,330.00 -44,270.00 -34,710.00 -29,227.00 -32,345.00
Issuance (Retirement) of Debt, Net
USD 16,896.00 18,266.00 29,305.00 22,057.00 29,014.00
Cash from Financing Activities
USD -16,379.00 -37,549.00 -17,716.00 -20,483.00 -17,347.00
Net Change in Cash USD 3,513.00 -415.00 7,276.00 -636.00 -195.00 Cash Interest Paid USD 0.00 339.00 514.00 1,316.00 2,092.00 Cash Taxes Paid USD 9,128.00 10,026.00 13,252.00 10,444.00 11,591.00
Summarized Interim Statement
Income Statements Currency Dec-2016 (14 Weeks)
Apr-2017 (13 Weeks)
Jul-2017 (13 Weeks)
Sep-2017 (13 Weeks)
Total Revenue USD 78,351.00 52,896.00 45,408.00 52,579.00 Gross Profit USD 30,176.00 20,591.00 17,488.00 19,931.00 Operating Income USD 23,359.00 14,097.00 10,768.00 13,120.00 Net Income USD 17,891.00 11,029.00 8,717.00 10,714.00 Diluted Normalized EPS USD 3.36 2.10 1.67 2.07 Balance Sheet Currency Dec-2016 Apr-2017 Jul-2017 Sep-2017 Total Current Assets USD 103,332.00 101,990.00 112,875.00 128,645.00 Total Assets USD 331,141.00 334,532.00 345,173.00 375,319.00 Total Current Liabilities USD 84,130.00 73,342.00 81,302.00 100,814.00 Total Liabilities USD 198,751.00 200,450.00 212,748.00 241,272.00 Total Equity USD 132,390.00 134,082.00 132,425.00 134,047.00 Total Common Shares Outstanding
USD 5,255.42 5,205.81 5,169.78 5,126.20
Cash Flow Currency Dec-2016 (14 Weeks)
Apr-2017 (27 Weeks)
Jul-2017 (40 Weeks)
Sep-2017 (53 Weeks)
Cash from Operating Activities USD 27,056.00 39,579.00 47,942.00 63,598.00 Cash from Investing Activities USD -19,122.00 -33,324.00 -36,504.00 -46,446.00 Cash from Financing Activities USD -12,047.00 -11,582.00 -13,351.00 -17,347.00 Net Change in Cash USD -4,113.00 -5,327.00 -1,913.00 -195.00
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Detailed Interim Statement
Income Statements Currency Dec-2016 (14 Weeks)
Apr-2017 (13 Weeks)
Jul-2017 (13 Weeks)
Sep-2017 (13 Weeks)
Total Revenue USD 78,351.00 52,896.00 45,408.00 52,579.00 Cost of Revenue, Total USD 48,175.00 32,305.00 27,920.00 32,648.00 Gross Profit USD 30,176.00 20,591.00 17,488.00 19,931.00 Total Operating Expense USD 54,992.00 38,799.00 34,640.00 39,459.00 Operating Income USD 23,359.00 14,097.00 10,768.00 13,120.00 Net Income USD 17,891.00 11,029.00 8,717.00 10,714.00 Diluted Normalized EPS USD 3.36 2.10 1.67 2.07 Revenue USD 78,351.00 52,896.00 45,408.00 52,579.00 Selling/ General/ Admin. Expenses, Total
USD 3,946.00 3,718.00 3,783.00 3,814.00
Research & Development USD 2,871.00 2,776.00 2,937.00 2,997.00 Other, Net USD 122.00 -165.00 -185.00 95.00 Net Income Before Taxes USD 24,180.00 14,684.00 11,308.00 13,917.00 Provision for Income Taxes USD 6,289.00 3,655.00 2,591.00 3,203.00 Net Income After Taxes USD 17,891.00 11,029.00 8,717.00 10,714.00 Net Income Before Extra. Items USD 17,891.00 11,029.00 8,717.00 10,714.00 Income Available to Com Excl ExtraOrd
USD 17,891.00 11,029.00 8,717.00 10,714.00
Income Available to Com Incl ExtraOrd
USD 17,891.00 11,029.00 8,717.00 10,714.00
Diluted Net Income USD 17,891.00 11,029.00 8,717.00 10,714.00 Diluted EPS Excluding ExtraOrd Items
USD 3.36 2.10 1.67 2.07
DPS - Common Stock Primary Issue
USD 0.57 0.57 0.63 0.63
Diluted Weighted Average Shares
USD 5,327.99 5,261.69 5,233.50 5,183.59
Balance Sheet Currency Dec-2016 Apr-2017 Jul-2017 Sep-2017 Total Current Assets USD 103,332.00 101,990.00 112,875.00 128,645.00 Total Assets USD 331,141.00 334,532.00 345,173.00 375,319.00 Total Current Liabilities USD 84,130.00 73,342.00 81,302.00 100,814.00 Total Liabilities USD 198,751.00 200,450.00 212,748.00 241,272.00 Total Equity USD 132,390.00 134,082.00 132,425.00 134,047.00 Cash USD 9,359.00 7,600.00 8,529.00 7,982.00 Cash & Equivalents USD 4,640.00 2,742.00 3,088.00 6,534.00
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Short Term Investments USD 46,453.00 56,759.00 65,142.00 59,665.00 Cash and Short Term Investments
USD 60,452.00 67,101.00 76,759.00 74,181.00
Accounts Receivable - Trade, Net
USD 14,057.00 11,579.00 12,399.00 17,874.00
Total Receivables, Net USD 27,977.00 20,612.00 22,632.00 35,673.00 Total Inventory USD 2,712.00 2,910.00 3,146.00 4,855.00 Other Current Assets, Total USD 12,191.00 11,367.00 10,338.00 13,936.00 Property/ Plant/ Equipment, Total - Gross
USD 62,759.00 65,124.00 68,981.00 75,076.00
Accumulated Depreciation, Total USD -36,249.00 -37,961.00 -39,695.00 -41,293.00 Property/ Plant/ Equipment, Total - Net
USD 26,510.00 27,163.00 29,286.00 33,783.00
Goodwill, Net USD 5,423.00 5,473.00 5,661.00 5,717.00 Intangibles, Net USD 2,848.00 2,617.00 2,444.00 2,298.00 Long Term Investments USD 185,638.00 189,740.00 184,757.00 194,714.00 Other Long Term Assets, Total USD 7,390.00 7,549.00 10,150.00 10,162.00 Accounts Payable USD 38,510.00 28,573.00 31,915.00 49,049.00 Accrued Expenses USD 23,739.00 23,096.00 23,304.00 25,744.00 Notes Payable/ Short Term Debt USD 10,493.00 9,992.00 11,980.00 11,977.00 Current Port. of LT Debt/ Capital Leases
USD 3,499.00 3,999.00 6,495.00 6,496.00
Other Current liabilities, Total USD 7,889.00 7,682.00 7,608.00 7,548.00 Long Term Debt USD 73,557.00 84,531.00 89,864.00 97,207.00 Total Long Term Debt USD 73,557.00 84,531.00 89,864.00 97,207.00 Total Debt USD 87,549.00 98,522.00 108,339.00 115,680.00 Deferred Income Tax USD 26,948.00 28,226.00 30,191.00 31,504.00 Other Liabilities, Total USD 14,116.00 14,351.00 11,391.00 11,747.00 Common Stock, Total USD 32,144.00 33,579.00 34,445.00 35,867.00 Retained Earnings (Accumulated Deficit)
USD 100,001.00 100,925.00 98,525.00 98,330.00
Unrealized Gain (Loss) USD 1,812.00 480.00 -95.00 -124.00 Other Equity, Total USD -1,567.00 -902.00 -450.00 -26.00 Total Liabilities & Shareholders' Equity
USD 331,141.00 334,532.00 345,173.00 375,319.00
Total Common Shares Outstanding
USD 5,255.42 5,205.81 5,169.78 5,126.20
Cash Flow Currency Dec-2016 (14 Weeks)
Apr-2017 (27 Weeks)
Jul-2017 (40 Weeks)
Sep-2017 (53 Weeks)
Cash from Operating Activities USD 27,056.00 39,579.00 47,942.00 63,598.00 Cash from Investing Activities USD -19,122.00 -33,324.00 -36,504.00 -46,446.00
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Cash from Financing Activities USD -12,047.00 -11,582.00 -13,351.00 -17,347.00 Net Change in Cash USD -4,113.00 -5,327.00 -1,913.00 -195.00 Net Income/ Starting Line USD 17,891.00 28,920.00 37,637.00 48,351.00 Depreciation/ Depletion USD 2,987.00 5,319.00 7,673.00 10,157.00 Deferred Taxes USD 1,452.00 2,822.00 4,764.00 5,966.00 Non-Cash Items USD 982.00 2,264.00 3,524.00 4,674.00 Cash Taxes Paid USD 3,510.00 6,878.00 9,752.00 11,591.00 Cash Interest Paid USD 497.00 1,007.00 1,456.00 2,092.00 Changes in Working Capital USD 3,744.00 254.00 -5,656.00 -5,550.00 Capital Expenditures USD -3,420.00 -6,435.00 -8,795.00 -12,795.00 Other Investing Cash Flow Items, Total
USD -15,702.00 -26,889.00 -27,709.00 -33,651.00
Financing Cash Flow Items USD -451.00 -563.00 -1,112.00 -1,247.00 Total Cash Dividends Paid USD -3,130.00 -6,134.00 -9,499.00 -12,769.00 Issuance (Retirement) of Stock, Net
USD -10,851.00 -17,739.00 -24,831.00 -32,345.00
Issuance (Retirement) of Debt, Net
USD 2,385.00 12,854.00 22,091.00 29,014.00
Capital Market Ratios
Key Ratios January 12,2018 P/E (Price/Earnings) Ratio 21.03 EV/EBITDA (Enterprise Value/Earnings Before Interest, Taxes, Depreciation and Amortization)
0.00
Enterprise Value/Sales 0.00 Enterprise Value/Operating Profit 0.00 Enterprise Value/Total Assets 0.00 Dividend Yield 0.01 Market Cap 896,810.28 Enterprise Value 0.00
Note: The above ratios are based on the share price as of January 12,2018, they are absolute numbers
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Annual Ratios
Key Ratios Unit Currency 2013 2014 2015 2016 2017 Growth Ratios Sales Growth % 0.00 9.20 6.95 27.86 -7.73 Operating Income Growth % 0.00 -11.30 7.15 35.67 -15.73 EBITDA Growth % 0.00 -10.06 6.64 35.59 -15.37 Net Income Growth % 0.00 -11.25 6.68 35.14 -14.43 EPS Growth % 0.00 -9.95 13.63 42.83 -9.88 Working Capital Growth % 0.00 55.03 -82.84 72.50 217.78 Equity Ratios EPS (Earnings per Share) USD 6.31 5.68 6.45 9.22 8.31 Dividend per Share USD 0.38 1.63 1.81 1.98 2.18 Dividend Cover Absolute 16.66 3.49 3.56 4.65 3.81 Book Value per Share USD 17.98 19.63 19.02 21.39 24.03 Cash Value per Share USD 0.00 0.00 0.00 0.00 0.69 Profitability Ratios Gross Margin % 43.87 37.62 38.59 40.06 39.08 Operating Margin % 35.30 28.67 28.72 30.48 27.84 Net Profit Margin % 26.67 21.67 21.61 22.85 21.19 Profit Markup % 78.16 60.32 62.83 66.83 64.14 PBT Margin (Profit Before Tax) % 35.63 29.35 29.26 31.03 28.46 Return on Equity % 35.30 29.98 35.42 44.74 35.62 Return on Capital Employed % 40.17 30.00 31.18 33.96 24.73 Return on Assets % 23.70 17.89 17.04 18.39 14.20 Return on Fixed Assets % 46.65 36.64 32.15 35.44 27.94 Return on Working Capital % 289.05 165.38 1,032.91 812.39 215.43 Cost Ratios Operating Costs (% of Sales) % 64.70 71.33 71.28 69.52 72.16 Administration Costs (% of Sales) % 6.42 6.34 6.56 6.13 6.58 Liquidity Ratios Current Ratio Absolute 1.50 1.68 1.08 1.11 1.35 Quick Ratio Absolute 1.48 1.64 1.05 1.08 1.33 Cash Ratio Absolute 0.76 0.93 0.40 0.52 0.85 Leverage Ratios Debt to Equity Ratio Absolute 0.00 0.14 0.32 0.54 0.68 Net Debt to Equity Absolute 0.03 0.21 0.41 0.63 0.72 Debt to Capital Ratio Absolute 0.00 0.10 0.21 0.31 0.36 Efficiency Ratios
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Asset Turnover Absolute 0.89 0.83 0.79 0.80 0.67 Fixed Asset Turnover Absolute 10.13 10.30 8.86 10.40 7.98 Inventory Turnover Absolute 111.06 60.43 53.18 59.64 61.62 Current Asset Turnover Absolute 2.71 2.33 2.67 2.61 2.02 Capital Employed Turnover Absolute 1.32 1.38 1.64 1.96 1.68 Working Capital Turnover Absolute 8.19 5.77 35.96 26.66 7.74 Revenue per Employee USD 0.00 0.00 0.00 0.00 0.00 Net Income per Employee USD 0.00 0.00 0.00 0.00 0.00 Capex to Sales % 6.01 5.31 5.37 4.92 6.28 R&D to Sales % 2.16 2.62 3.30 3.45 4.66
Interim Ratios
Key Ratios Currency December 01,2016
April 01,2017
July 01,2017
September 01,2017
Ratio Type
EPS (Earnings per Share)
USD 3.36 2.10 1.67 2.07 Equity Ratios
Dividend per Share USD 0.57 0.57 0.63 0.63 Equity Ratios Book Value per Share USD 25.19 25.76 25.62 26.15 Equity Ratios Current Ratio Absolute 1.23 1.39 1.39 1.28 Liquidity Ratios
A Progressive Digital Media business
John Carpenter House, John Carpenter Street, London, United Kingdom, EC4Y 0AN T: +44 (0) 203 377 3042 | F: +44 (0) 870 134 4371 | E: [email protected] | W: www.marketline.com
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