In Apple’s 10-K filing with the SEC, it was revealed that the Cupertino California company increased spending on research and development by almost $1 billion. This number represents a nearly 40% increase from one year ago. The nearly $1 billion boost in R&D can be compared to $600,000 during fiscal 2011 and $500,000 in 2010.
The large increase in spending is likely the result of a multitude of new Apple products being unveiled throughout the year. The most notable additions to the device lineup include the iPhone 5 with its new A6 CPU the 13 and 15-inch Retina MacBook Pros, and the totally redesigned iMac. Other devices that also received refreshes include Apple’s iPod lineup, the Mac mini, and the 9.7-inch iPad.
An excerpt from Apple’s filing can be found below:
[Apple] continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company’s core business strategy. As such, [Apple] expects to make further investments in R&D to remain competitive.