Apple Inc. - · PDF fileApple Inc. Company Profile Publication Date: 6 May 2011 Europe, Middle East & Africa Americas Asia Pacific 119 Farringdon Road 245 5th

Apple Inc.

Company Profile

Publication Date: 6 May 2011

www.datamonitor.com

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Apple Inc.

TABLE OF CONTENTS

Company Overview..............................................................................................4

Key Facts...............................................................................................................4

Business Description...........................................................................................5

History...................................................................................................................8

Key Employees...................................................................................................12

Key Employee Biographies................................................................................13

Major Products and Services............................................................................18

Revenue Analysis...............................................................................................20

SWOT Analysis...................................................................................................22

Top Competitors.................................................................................................28

Company View.....................................................................................................29

Locations and Subsidiaries...............................................................................32


Apple Inc.TABLE OF CONTENTS

COMPANY OVERVIEW

Apple or "the company" is engaged in design, development and marketing of personal computers,media devices, and portable digital music players. The company also sells a variety of relatedsoftware, services, peripherals, networking solutions, and third-party digital content and applications.The company's portfolio of offerings comprises Macintosh (Mac) computing systems, iPods line ofportable digital music and video players, iPhone handsets and iPad portable multimedia and computingdevices. The company primarily operates in the US. It is headquartered in Cupertino, California andemploys 46,600 employees.

The company recorded revenues of $65,225 million during the financial year ended September 2010(FY2010), an increase of 52% over 2009. The increase in revenues was mainly due to 93% growthin sales of iPhone and robust sales of the iPad. The operating profit of the company was $18,385million in FY2010, an increase of 56.6% over 2009. Its net profit was $14,013 million in FY2010, anincrease of 70.2% over 2009.

KEY FACTS

Apple Inc.Head Office1 Infinite LoopCupertinoCalifornia 95014USA

1 408 996 1010Phone

1 408 974 2113Fax

http://www.apple.comWeb Address

65,225.0Revenue / turnover(USD Mn)

SeptemberFinancial Year End

46,600Employees

AAPLNASDAQ NationalMarket Ticker


Apple Inc.Company Overview

BUSINESS DESCRIPTION

Apple or "the company" designs, manufactures and markets a range of personal computers, mobilecommunication and media devices, and portable digital music players. The company sells a varietyof related software, services, peripherals, networking solutions, and third-party digital content andapplications. In addition, the company sells a variety of third-party Mac, iPhone, iPad and iPodcompatible products, including application software, printers, storage devices, speakers, headphones,and various other accessories and peripherals. The company sells its products worldwide throughits retail stores, online stores, and direct sales force and third-party cellular network carriers,wholesalers, retailers, and value-added resellers.

The company manages its business primarily on a geographic basis. It operates through five operatingsegments: Americas, Europe, Japan, Asia-Pacific and retail. The Americas segment includes bothNorth and South America. The Europe segment includes European countries as well as the MiddleEast and Africa. The Asia-Pacific segment includes Australia and Asia, but does not include Japan.The retail segment operates Apple retail stores in 11 countries, including the US.

Each operating segment provides similar hardware and software products and similar services.

Apple's products can be grouped under different product lines which are as follows: Mac HardwareProducts, iTunes, iPhone, iPad, iPod, displays and peripheral products, software products andcomputer technologies, and internet software and services.

The company hardware products comprise a range of personal computing products including desktopand portable computers, Xserve servers, related devices and peripherals, and various third-partyhardware products. The Mac desktop and portable systems feature Intel microprocessors, Mac OSX Version 10.6 Snow Leopard operating system and the iLife suite of software for creation andmanagement of digital photography, music, movies, DVDs and websites.

The company's desktop computers include iMac, Mac Pro and Mac mini.The iMac desktop computeris an all-in-one design that incorporates a display, processor, graphics card, hard drive, optical drive,memory and other components inside a single enclosure. The Mac mini is a desktop computer in acompact enclosure.

Apple's portable computers include: MacBook–a portable computer designed for consumer andeducation users; MacBook Pro–a portable computer designed for professionals and consumers and;MacBook Air–a high performance, ultra-slim notebook computer designed for professionals andconsumers.

The company's iTunes digital music management software is an application for playing, downloading,and organizing digital audio and video files and is available for both Mac and Windows-basedcomputers. iTunes is integrated with the iTunes Store, a service that allows customers to find,


Apple Inc.Business Description

purchase, rent, and download third-party digital music, audio books, music videos, short films,television shows, movies, podcasts, games, and other applications.

Apple's iPhone combines a mobile phone, a widescreen iPod with touch controls, and an internetcommunications device in a single handheld product. Based on the company's multi-touch userinterface, iPhone features desktop-class email, web browsing, searching, and maps and is compatiblewith both Macs and Windows-based computers. The iPhone 4, the latest version if iPhone featuresan all-new design, FaceTime video calling, high resolution Retina display, a 5 megapixel camerawith LED flash and front facing camera, high definition video recording, Apple's A4 processor anda 3-axis gyroscope.

The iPad is a multi-purpose mobile device for browsing the web, reading and sending email, viewingphotos, watching videos, listening to music, playing games, and reading e-books. iPad allowscustomers to access the iTunes Store to download audio and video files, as well as a variety of otherdigital content and applications.

Apple's iPod line of portable digital music and media players includes iPod touch, iPod nano, iPodshuffle and iPod classic.

The company manufactures the Apple Cinema High Definition Display and sells a variety ofApple-branded and third-party Mac-compatible peripheral products, including printers, storagedevices, computer memory, digital video and still cameras, and various other computing productsand supplies.

Apple TV is a device that allows customers to rent and watch movies and television shows on theirtelevision. Content from Netflix, YouTube, Flickr and MobileMe, as well as music, photos and videosfrom a Mac or Windows-based computer can also be wirelessly streamed to a television throughApple TV.

The company offers a range of software products and computer technologies for consumer, SMB,education, enterprise, government, and creative customers. The company's operating systemsoftware includes Mac OS X and iOS. The Mac OS X is built on an open-source UNIX-basedfoundation and Mac OS X Snow Leopard is the seventh major release of Mac OS X. The iOS is thecompany's mobile operating system that serves as the foundation for iPhone, iPad and iPod touch.

Apple's portfolio of application software includes iLife, iWork and other application software. iLife '11is the latest version of the company's consumer-oriented digital lifestyle application suite includedwith all Mac computers. iLife features iPhoto digital photo software application, iMovie, iDVD,GarageBand music creation software application and iWeb. The iWork is the latest version of thecompany's integrated productivity suite designed to help users create, present, and publishdocuments, presentations, and spreadsheets. The company also offers various other applicationsoftware including Final Cut Studio, Final Cut Express, Final Cut Server, Logic Studio, Logic Express9, Logic Studio Pro, and the FileMaker Pro database software.



In internet software and services, the company is focused on delivering seamless integration withand access to the internet throughout its products and services. Apple's internet solutions adhereto many industry standards to provide an optimized user experience. Safari 5 is the latest versionof the company's web browser that is compatible with Macs and Windows-based computers. MobileMeis an annual subscription-based suite of internet services that delivers email, contacts and calendarsto and from native applications on iPhone, iPad, iPod touch, Macs, and Windows-based computers.



HISTORY

Apple or "the company" was incorporated in 1977. It was co-founded by Steven Wozniak and StevenP. Jobs. They introduced the first Apple I computer in 1976. The Apple I was a failure but Apple IIlaunched in 1980 was successful. The company offered its IPO in the year 1980.

In the early eighties, competition from the PC market and internal difficulties led to critical managementchanges. By 1983, Apple faced stiff competition with the entry of IBM into the PC market, and thefailure of its Apple III version computer. Apple introduced its first mouse driven PC, the Macintosh,in 1984.

By 1990, the market was flooded with cheap PC clones and Microsoft had launched Windows 3.0.In 1994, the company launched the PowerPC chip based PowerMac, which allowed Macs to competewith the speed of Intel's PC processors. Apple still had problems though and in 1995, the companyhad a $1 billion order backlog. These problems were compounded by the launch of Windows 95.The company's performance nosedived in 1995-96 when it lost $68 million.

In 1996, Apple acquired NeXT, and by virtue of which, its operating system (OS), Rhapsody, becameApple's next-generation OS. By 1997, Apple had incurred huge losses running in millions of dollars.Mr. Jobs, the co-founder returned as interim CEO. Under his leadership, Apple reorganized toconcentrate on its more profitable competencies, and divested its unsuccessful businesses asspin-offs, including Newton, its personal digital assistant line of products.

Soon after Mr. Jobs returned, an agreement was made with Microsoft, and was subsequently followedwith the appearance of MS Office on Mac PCs. In 2001, the company acquired PowerSchool, oneof 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 DVDauthoring products.

In the following year, Apple, Ericsson and Sun Microsystems formed an alliance to create a standardformat for delivering multimedia content to wireless devices, such as smartphones and PDAs. Thealliance combined Apple's QuickTime video creation software, Sun's content distribution softwareand hardware, and Ericsson's mobile infrastructure and services expertise.

Apple pursued a number of acquisitions during 2002. The company acquired Prismo Graphics,Silicon Grail, certain assets of Zayante, and also acquired the German based specialist musicsoftware manufacturer, Emagic. Additionally, in 2002, the company acquired certain assets of NothingReal, a privately held company engaged in the development of high performance tools designed forthe digital image creation market.

Apple launched its iTunes music store, an online store for downloading music tracks and albums,in 2003. In the following year, the company signed licensing agreements with three of the largestEuropean independent music labels, Beggars Group, Sanctuary Records Group and V2, adding


Apple Inc.History

tens of thousands of additional independent tracks from leading artists to the iTunes music store inthe UK, France and Germany. In the same year, Apple introduced its fourth generation iPod portabledigital music player.

In 2005, the company made an agreement to use Intel microprocessors in its Macintosh PCs. Laterin the year, the company collaborated with Acura, Audi, Honda and Volkswagen to deliver iPod withtheir car stereos for 2006 model lines, and also introduced mobile phone with iTunes in collaborationwith Motorola and Cingular Wireless.

Chrysler, in association with Apple, integrated iPod option in the audio systems in its 2006 models.In the same year, Apple sold its student information systems (SIS) division, PowerSchool, to Pearson.Later in the year, Ford, General Motors and Mazda teamed up with Apple to integrate iPod acrosstheir brand and models. In 2006, Apple teamed up with Air France, Continental, Delta, Emirates,KLM and United Airlines to integrate iPod with in-flight entertainment systems.

The company changed its name from Apple Computer, Inc to Apple Inc in 2007, representing itsexpanding product portfolio and increasing focus on consumer electronics market. Apple resolvedits 'iPhone' trademark issue with Cisco Systems by entering into an agreement in 2007. Accordingto the agreement, both the companies acknowledged the ownership rights and will use the trademarkin their products. In the same year, Apple launched its revolutionary product, iPhone, a smartphonedevice, and also launched iPod nano, featuring two inch display.

In 2008, Apple introduced Time Capsule, a backup appliance that automatically and wirelessly backsup everything on one or more Macs running Leopard. Subsequently, it also introduced Mac Pro witheight processor cores, and MacBook Air, a thin notebook, which measures a maximum height of0.76-inch.

Apple introduced Xsan 2, the first major upgrade to its easy-to-use, high performance, enterpriseclass SAN file system for Mac OS X, in 2008. Subsequently, the company introduced MobileMe, anew internet service that offers push email, push contacts and push calendars to native applicationson iPhone, iPod touch, Macs and PCs. Also in 2008, Apple announced iPod touch.

In 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 anupdated version of iWeb. Subsequently, the company introduced the iPhone 3GS, Apple'sthird-generation smartphone with new features such as, longer battery life, high-quality 3 megapixelautofocus 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 andinternational music from all the major labels and independent labels. Subsequently, Apple launchedits previously announced iPod touch lineup with features including Apple Multi-Touch user interface,3.5-inch widescreen glass display, Wi-Fi, Bluetooth, and a built-in accelerometer and speaker.

During the last quarter of 2009, the company updated its MacBook with LED-backlit display, AppleMulti-Touch trackpad and built-in seven-hour battery, and subsequently, introduced its wireless


Apple Inc.History

Magic Mouse, the world's first mouse to use Apple's Multi-Touch technology. Subsequently, Appleresponded to a lawsuit brought against it by Nokia with a countersuit, claiming that Nokia infringed13 Apple patents.

In January 2010, Apple announced iPad, a high-resolution, Multi-Touch display device for browsingthe web, reading, sending email, and viewing entertainment content.

In March 2010, Apple filed a lawsuit against HTC for infringing of 20 Apple patents related to theiPhone's user interface, underlying architecture and hardware. In the next month, the company'siPad, which was announced in January 2010, was made available in the US, Australia, Canada,France, Germany, Italy, Japan, Spain, Switzerland and the UK, and sold 300,000 units on the firstday of its launch in the US. Subsequently in April 2010, the company previewed its iPhone OS 4software and released a beta version of the software to iPhone Developer Program members.

The company launched iPad in nine more countries, including Australia, Canada, France, Germany,Italy, Japan, Spain, Switzerland and the UK in May 2010.In the following month, Apple introducedthe new iPhone 4 featuring FaceTime, which allows video calling, and Apple’s new Retina displayfor super crisp text, images and video.

In July 2010, Apple released Safari 5.0.1 with extensions support allowing developers to createextensions with HTML5, CSS3 and JavaScript web standards. In the same month, the iPhone 4 waslaunched in 17 more countries. Also in the month, Apple updated its all-in-one iMac line, with thelatest Intel Core i3, Core i5 and Core i7 processors and powerful new graphics.

Apple announced the new iPod touch in September 2010, with new features including Retina display,FaceTime video calling, HD video recording, Apple’s A4 chip, 3-axis gyro, iOS 4.1 and Game Center.In the same month, Apple introduced iTunes 10 with Ping, a new music-oriented social network.Subsequently, Apple announced the new Apple TV which allows viewers to watch HD movies andTV shows.

In October 2010, Apple introduced the Apple Store in China (apple.com.cn) to shop online for Appleproducts. In the same month, Apple unveiled an all new MacBook Air. In the same month, VerizonWireless and Apple announced the availability of iPad at over 2,000 Verizon Wireless Stores in theUS.

The company announced that iOS 4.2, the latest version of Apple's mobile operating system, isavailable for download for iPad, iPhone and iPod touch in November 2010. In the same month,Oracle and Apple launched the OpenJDK project for Mac OS X. Subsequently, Apple and TheDentsu Group formed a partnership to expand Apple’s iAd mobile advertising network to Japan inearly 2011. As part of the agreement, Dentsu will be responsible for the selling and creative executionof iAds in Japan, and Apple will host, target and deliver the iAds to its iPhone and iPod touch users.

In January 2011, Verizon Wireless launched the iPhone on its network, ending the exclusivity ofAT&T. In the same month, Apple launched the Mac App Store with more than 1,000 free and paidapplications.


Apple Inc.History

Apple updated its MacBook Pro family with next generation processors and graphics, high-speedThunderbolt I/O technology and a new FaceTime HD camera in February 2011. In the same month,Apple introduced iPad 2, featuring a new design that is 33% thinner and up to 15% lighter than theoriginal iPad.

In March 2011, Apple introduced iOS 4.3, the latest version of its mobile operating system, withfaster Safari mobile browsing performance with the Nitro JavaScript engine; iTunes Home Sharing;enhancements to AirPlay; and the Personal Hotspot feature for sharing an iPhone 4 cellular dataconnection over Wi-Fi.


Apple Inc.History

KEY EMPLOYEES

CompensationBoardJob TitleName

1 USDExecutive BoardChief Executive OfficerSteven P. Jobs

873684 USDNon Executive BoardDirectorBill Campbell

1076258 USDNon Executive BoardDirectorMillard Drexler

1278431 USDNon Executive BoardDirectorAlbert Gore

52214 USDNon Executive BoardDirectorAndrea Jung

849583 USDNon Executive BoardDirectorArthur D Levinson

Non Executive BoardDirectorRonald D. Sugar

59092572 USDSenior ManagementChief Operating OfficerTimothy D. Cook

29796666 USDSenior ManagementSenior Vice President, ChiefFinancial Officer

Peter Oppenheimer

29795443 USDSenior ManagementSenior Vice President, RetailRonald B. Johnson

29739609 USDSenior ManagementSenior Vice President, GeneralCounsel and Secretary

D. Bruce Sewell

Senior ManagementSenior Vice President, iPhoneSoftware Engineering & PlatformExperience

Scott Forstall

Senior ManagementSenior Vice President, HardwareEngineering

Robert Mansfield

Senior ManagementSenior Vice President, WorldwideProduct Marketing

Philip W. Schiller

Senior ManagementSenior Vice President, SoftwareEngineering

Bertrand Serlet

Senior ManagementSenior Vice President, OperationsJeffrey E. Williams


Apple Inc.Key Employees

KEY EMPLOYEE BIOGRAPHIES

Steven P. Jobs

Board: Executive BoardJob Title: Chief Executive OfficerSince: 1997Age: 56

Mr. Jobs has been the CEO at Apple since 1997. He is one of the Co-founders of the company. Mr.Jobs is also a Director at the Walt Disney Company (Disney) since 2006. His experience includesover a decade of leading a high growth technology company.

Bill Campbell

Board: Non Executive BoardJob Title: DirectorSince: 1997Age: 70

Mr. Campbell has been a Director at Apple since 1997. He has been the Chairman at Intuit since1998 and a Director at Intuit since 1994. Mr. Campbell is also the Chairman of the Board of Trusteesat Columbia University and a Director of The National Football Foundation & College Hall of Fame.

Millard Drexler


Mr. Drexler has been a Director at Apple since 1999. He has been the Chairman and CEO at J.CrewGroup since 2003. Previously, Mr. Drexler was the CEO at The Gap from 1995 and President from1987 to 2002. He was also a Director at Gap from 1983 to 2002.

Albert Gore



Apple Inc.Key Employee Biographies

Mr. Gore has been a Director at Apple since 2003. He has served as the Chairman at Current TVsince 2002, Chairman at Generation Investment Management since 2004 and a Partner at KleinerPerkins Caufield & Byers since 2007. Mr. Gore is also the Chairman of the Alliance for ClimateProtection.

Andrea Jung


Ms. Jung has been a Director at Apple since 2008. She has been the Chairman and CEO at Avonsince 2001, having previously served as the CEO at Avon since 1999 and as a Director since 1998.Since 1998, Ms. Jung has been a Director at General Electric Company, where she serves on theManagement Development and Compensation Committee and the Nominating and CorporateGovernance Committee. She is also a Member at the New York Presbyterian Hospital Board ofTrustees, a Director at Catalyst, a nonprofit corporate membership research and advisory organization,and the Chairman at the World Federation of Direct Selling Associations.

Arthur D Levinson


Dr. Levinson has been a Director at Apple since 2000. He has been the Chairman at Genentechsince 1999. Previously, Dr. Levinson also served as the CEO at Genentech from 1995 to 2009.Since 2009, Dr. Levinson has served as an Advisor to Genentech's Research and Early Developmentcenter and as a Member of the Scientific Resource Board, Genentech's external advisory group.Dr. Levinson is a Director at NGM Biopharmaceuticals. He also serves as a Director at Amyris, onthe Board of Scientific Consultants of the Memorial Sloan-Kettering Cancer Center, on the IndustrialAdvisory Board of the California Institute for Quantitative Biomedical Research, on the AdvisoryCouncil for the Princeton University Department of Molecular Biology, on the Advisory Council forthe Lewis-Sigler Institute for Integrative Genomics and on the Executive Council of TechNet.

Ronald D. Sugar




Dr. Sugar has been a Director at Apple since 2010. He is the retired Chairman of the Board andCEO at Northrop Grumman. Dr. Sugar was the Chairman and CEO at Northrop Grumman from 2003until 2009 and the President and Chief Operating Officer from 2001 until 2003. He was the Presidentand Chief Operating Officer at Litton Industries from 2000 until the company was acquired by NorthropGrumman in 2001. He was earlier the Chief Financial Officer at TRW. He is also a Director at Amgensince 2010 and at Chevron since 2005. Dr. Sugar is a Member of the National Academy ofEngineering, the Trustee of the University of Southern California, a Director of the Los AngelesPhilharmonic Association and the national trustee of the Boys and Girls Clubs of America.

Timothy D. Cook

Board: Senior ManagementJob Title: Chief Operating OfficerAge: 50

Mr. Cook has been the Chief Operating Officer at Apple. He joined the company in 1998. Mr. Cookalso served as the Executive Vice President, Worldwide Sales and Operations from 2002 to 2005.In 2004, his responsibilities were expanded to include the company's Macintosh hardware engineering.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, WorldwideOperations. Prior to joining the company, Mr. Cook was the Vice President, Corporate Materials atCompaq. Prior to his work at Compaq, Mr. Cook was the Chief Operating Officer of the ResellerDivision at Intelligent Electronics. He also spent 12 years with IBM, most recently as the Director ofNorth American Fulfillment. Mr. Cook also has served as a Director at NIKE since 2005.

Peter Oppenheimer

Board: Senior ManagementJob Title: Senior Vice President, Chief Financial OfficerAge: 48

Mr. Oppenheimer has been the Senior Vice President, Chief Financial Officer at Apple. He joinedthe company in 1996. Mr. Oppenheimer also served as the Vice President and Corporate Controllerand as the Senior Director of Finance for the Americas region of the company. Prior to joining Apple,Mr. Oppenheimer was the Chief Financial Officer of one of the four business units at Automatic DataProcessing. Prior to joining ADP, Mr. Oppenheimer spent six years in the IT Consulting Practice atCoopers and Lybrand.

Ronald B. Johnson

Board: Senior ManagementJob Title: Senior Vice President, RetailAge: 52



Mr. Johnson has been the Senior Vice President, Retail at Apple. He joined the company in 2000.Prior to joining Apple, Mr. Johnson spent 16 years with Target Stores, most recently as the SeniorMerchandising Executive.

D. Bruce Sewell

Board: Senior ManagementJob Title: Senior Vice President, General Counsel and SecretaryAge: 52

Mr. Sewell has been the Senior Vice President, General Counsel and Secretary at Apple. He joinedthe company in 2009. Prior to Apple, he served as the Senior Vice President, General Counsel atIntel from 2005. Mr. Sewell also served as Intel's Vice President, General Counsel from 2004 to2005 and as the Vice President of Legal and Government Affairs, Deputy General Counsel from2001 to 2004. Prior to joining Intel in 1995, Mr. Sewell was a Partner in the law firm of Brown andBain PC.

Scott Forstall

Board: Senior ManagementJob Title: Senior Vice President, iPhone Software Engineering & Platform ExperienceAge: 42

Mr. Forstall has been the Senior Vice President, iPhone Software Engineering & Platform Experienceat Apple. He joined the company in 1997 upon the company's acquisition of NeXT. Mr. Forstall alsohas served as the Vice President of Platform Experience while leading several releases of Mac OSX, and as Director of Application Frameworks. Prior to joining the company, Mr. Forstall worked atNeXT developing core technologies.

Robert Mansfield

Board: Senior ManagementJob Title: Senior Vice President, Hardware EngineeringSince: 2008Age: 50

Mr. Mansfield has been the Senior Vice President, Hardware Engineering at Apple since 2008. Hejoined the company in 1999 as the Vice President of Development Engineering. Prior to joining thecompany, Mr. Mansfield was the Vice President of Engineering at Raycer Graphics and a SeniorDirector at Silicon Graphics.

Philip W. Schiller



Board: Senior ManagementJob Title: Senior Vice President, Worldwide Product MarketingAge: 50

Mr. Schiller has been the Senior Vice President, Worldwide Product Marketing at Apple. He rejoinedthe company in 1997. Prior to rejoining the Company, Mr. Schiller was the Vice President of ProductMarketing at Macromedia from 1995 to 1997 and the Director of Product Marketing at FirePowerSystems from 1993 to 1995. Prior to that, Mr. Schiller spent six years at the company in variousmarketing positions.

Bertrand Serlet

Board: Senior ManagementJob Title: Senior Vice President, Software EngineeringAge: 50

Mr. Serlet has been the Senior Vice President, Software Engineering at Apple. He joined the companyin 1997 upon the company's acquisition of NeXT and also served as the Vice President of PlatformTechnology. At NeXT, Mr. Serlet held several engineering and managerial positions, includingDirector of Web Engineering.

Jeffrey E. Williams

Board: Senior ManagementJob Title: Senior Vice President, OperationsSince: 2010Age: 47

Mr. Williams has been the Senior Vice President, Operations at Apple. He joined the company in1998 and assumed his current position in July 2010. Mr. Williams also served as the Head ofWorldwide Procurement and Vice President of Operations at the company. Prior to joining thecompany, Mr. Williams worked in a number of operations and engineering roles at IBM from 1985to 1998.



MAJOR PRODUCTS AND SERVICES

Apple is a major player in the PCs, portable digital music players, and mobile devices. Some of the key products and services of the company include:

MAC products:Mac ProMac miniMacBookMacBook AirMacBook ProiMac

Mac Accessories:Magic MouseMagic TrackpadKeyboardCinema DisplaysApple Battery Charger

Wi-Fi Base Stations:AirPort ExpressAirPort ExtremeTime Capsule

Servers:XsanMac OS X ServerMac OS X Snow Leopard

Applications:iLifeiWorkQuickTime 7AppleWorksApertureFinal Cut StudioFinal Cut ServerFinal Cut Express HDLogic StudioLogic ExpressApple Remote Desktop 3

iPod:


Apple Inc.Major Products and Services

iPod touchiPod classiciPod nanoiPod shuffle

iPhone:iPhone 3GSiPhone 3GApps for iPhoneAccessories

iPad:iPad with 3GiOS4

iTunes:MusicMoviesTV ShowsAudio booksGamesApplicationsPodcasts


Apple Inc.Major Products and Services

REVENUE ANALYSIS

Apple

The company recorded revenues of $65,225 million during the financial year ended September 2010(FY2010), an increase of 52% over 2009. In FY2010, Americas, the company's largest geographicmarket, accounted for 37.6% of the total revenues.

The company's primary reporting format is by geographic divisions. The company also reports itsrevenues by eight product divisions: iPhone (accounted for 38.6% of total revenues in FY2010);portables (17.3%); iPods (12.7%); desktops (9.5%); iPad (7.6%); other music related products andservices (7.6%); software, service and other (3.9%); and peripherals and other hardware (2.8%).

Revenues by product divisions

In FY2010, the iPhone and related products and services division recorded revenues of $25,179million, an increase of 93.2% over 2009.

The portables division recorded revenues of $11,278 million in FY2010, an increase of 18.3% over2009.

The iPod division recorded revenues of $8,274 million in FY2010, an increase of 2.3% over 2009.

The desktops division recorded revenues of $6,201 million in FY2010, an increase of 43.4% over2009.

The iPad and related products and services division recorded revenues of $4,958 million in FY2010.The iPad was launched by the company in FY2010.

The other music related products and services division recorded revenues of $4,948 million inFY2010, an increase of 22.6% over 2009.

The software, service and other sales division recorded revenues of $2,573 million in FY2010, anincrease of 6.7% over 2009.

The peripherals and other hardware division recorded revenues of $1,814 million in FY2010, anincrease of 23% over 2009.

Revenues by Geography

Americas, Apple's largest geographical market, accounted for 37.6% of the total revenues in FY2010.Revenues from Americas reached $24,498 million in 2010, an increase of 29.1% over 2009.


Apple Inc.Revenue Analysis

Europe accounted for 28.7% of the total revenues in FY2010. Revenues from Europe reached$18,692 million in 2010, an increase of 58.3% over 2009.

Japan accounted for 6.1% of the total revenues in FY2010. Revenues from Japan reached $3,981million in 2010, an increase of 74.7% over 2009.

Asia-Pacific accounted for 12.7% of the total revenues in FY2010. Revenues from Asia-Pacificreached $8,256 million in 2010, an increase of 159.7% over 2009.

Retail* accounted for 15% of the total revenues in FY2010. Revenues from retail reached $9,798million in 2010, an increase of 47.2% over 2009.

Note: *The retail segment operates Apple retail stores in 11 countries, including the US.


Apple Inc.Revenue Analysis

SWOT ANALYSIS

Apple or "the company" is engaged in design, development and marketing of personal computers,media devices, and portable digital music players. The company also sells a variety of relatedsoftware, services, peripherals, networking solutions, and third-party digital content and applications.The Apple brand is well recognized amongst most consumers.The company's strong brand enablesit to command a premium pricing and create significant demand for its products such as iMac, iPod,iPhone and iPad. Strong brand image gives the company an edge over regional and globalcompetitors. However, rising popularity of Android may affect the attractiveness of Apple's iOSaffecting the market share of Apple.

WeaknessesStrengths

Patent infringement lawsuit may affectfinancial condition and operating results

Strong brand image provides an edge overcompetitors

Product recalls may harm Apple's reputationand add significant warranty and otherexpenses

Robust financial performance strengthensinvestors' confidence and provides capitalfor future growth avenuesFocused R&D driving innovation andconsolidating its market position

ThreatsOpportunities

Rising popularity of Google Android mayaffect its market share

Strong growth in smartphone and tabletmarkets to boost Apple's revenues

Frequent absence of Steve Jobs to impacthigh growth sustenance levels

Robust outlook for mobile advertisingmarket provides growth opportunity

Intense competition may affect revenuesand profitabilityDependence on specific suppliers mayaffect its operations

Strengths

Strong brand image provides an edge over competitors

The Apple brand is well recognized amongst most consumers. Apple's products enjoy a high levelof brand awareness and brand recognition throughout all its markets. This is evident with the rapidsales of new Apple launches. For instance, net sales of iPad and related products and services was$5 billion and unit sales of iPad were 7.5 million during 2010. iPad was released in the US in April2010 and in various other countries over the remainder of 2010. Also, the company sold 7.33 million


Apple Inc.SWOT Analysis

iPads in the first quarter of 2011. Apple leverages its brand image to differentiate its product offeringand drive sales. The company's strong brand enables it to command a premium pricing and createsignificant demand for its products such as iMac, iPod, iPhone and iPad. In FY2010, net sales ofiPhone increased 93% to $25.2 billion. Also, the net sales of Mac desktops and portables increased43% and 18%, respectively, while net sales of other music related products and services increased23% compared to 2009.

According to industry sources, Apple is the fourth largest player in the global mobile phone market.The company holds a market share of approximately 5% and trails Nokia, Samsung and LGElectronics, which hold 29%, 18.5% and 6.5%, respectively. Moreover, in the global smartphonemarket, Apple's iOS platform is the third largest player, with a market share of approximately 18.5%.The company is projected to take the second spot by overtaking the Symbian platform by the endof 2011. Strong brand image gives the company an edge over regional and global competitors.

Robust financial performance strengthens investors' confidence and provides capital for future growthavenues

Apple reported robust financial performance in the past few years. The company's total revenueincreased to $65,225 million in FY2010 from $19,315 million in 2006, representing a compoundedannual growth rate (CAGR) of 36%. The company's net income rose at a CAGR of 63% to $14,013million from $1,989 million in 2006. Following the trend, Apple's net income margin also improvedto 21.5% in 2010 from 10.3% 2006.

Strong operating performance has resulted in higher cash and cash equivalents for the company.The company's cash and cash equivalents stood at $51,011 million in FY2010, which grew at aCAGR of 50% from $10,110 million in 2006. Strong growth in revenues and cash flows indicatesthe company's robust financial position, which strengthens investors' confidence, as well as allowsit to invest in future growth avenues.

Focused R&D driving innovation and consolidating its market position

Apple has a strong focus on research and development (R&D) as continual investment in R&D iscritical for the development and enhancement of innovative products and technologies. In additionto evolving its PCs and related solutions, the company continues to capitalize on the convergenceof the PC, digital consumer electronics and mobile communications by creating and refininginnovations, such as the iPod, iPhone, iTunes Store, Apple TV and iPad. Apple leverages its uniqueability to design and develop its own operating system, hardware, application software, and servicesto provide its customers new products and solutions with superior ease-of-use, seamless integration,and innovative industrial design.

The company's R&D expenditure was $1,782 million, $1,333 million and $1,109 million in FY2010,2009 and 2008, respectively. The company's research and development spending is focused onfurther developing its existing Mac line of personal computers; the Mac OS X and iOS operatingsystems; application software for the Mac; iPhone, iPad and iPod and related software. It also plansto develop new digital lifestyle consumer and professional software applications and invest in new



product areas and technologies in coming years. Strong R&D has enabled the company to continuallylaunch new products and upgrade the existing ones. In March 2011, the company introduced iPad2, the next generation of iPad featuring an entirely new design that is 33% thinner and up to 15%lighter than the original iPad.

Apple's strong focus on research and development has led to the launch of innovative products suchas iPod, iPhone and iPad enhancing its brand image and consolidating its market position.

Weaknesses

Patent infringement lawsuit may affect financial condition and operating results

The company is involved in legal complaints relating to patent infringement. For example, in January2010, Nokia filed a revised suit against Apple with the US International Trade Commission (ITC),alleging that Apple has infringed Nokia's patents in almost all of its mobile phones, portable musicplayers, and computers. Motorola Mobility had filed complaints against the company in the US DistrictCourt for the Districts of Florida, Illinois, Delaware and in the International Trade Commission (ITC).These complaints include claims of patent infringement related to certain of the company's products.

Unfavorable verdict in any of the matters related to patent infringement or other intellectual propertyrights may affect the company's financial condition and operating results.

Product recalls may harm Apple's reputation and add significant warranty and other expenses

The company's products and services experience quality problems from time to time. Apple sellshighly complex hardware and software products and services that can contain defects in design andmanufacture. Defects may also occur in components and products that the company purchasesfrom third parties. There can be no assurance the company will be able to detect and fix all defectsin the hardware, software and services it sells.

For instance, in 2010, due to antenna problems in the newly launched iPhone 4 smartphone, demandsfor product recall were raised. Instead of the complete product recall, the company offered iPhone4 customers a free case that will mitigate reception problems. Similarly, in 2008, Apple announcedUltracompact USB Adapter Exchange Program. Under certain conditions, the new UltracompactApple USB power adapter's metal prongs broke off and remained in a power outlet, creating the riskof electric shock. Therefore, the company decided to exchange every Ultracompact power adapterfor a new redesigned adapter, free of charge. Product defects may harm Apple's reputation and addsignificant warranty and other expenses.

Opportunities

Strong growth in smartphone and tablet markets to boost Apple's revenues



The worldwide smartphones market segment is forecast to record strong growth in coming years.The shipments for smartphones are expected to exceed 400 million globally.The number is expectedto reach approximately 850 million by the end of 2013. Apple is the third largest player in thesmartphone market segment in the US since launching its first mobile device, iPhone, in 2007.iPhone is a multimedia and internet-enabled mobile phone, combining mobile phone, widescreeniPod and internet functionalities and applications that support email, web browsing and maps on amobile phone. The company also experienced strong growth in its iPhone business in recent years.Its iPhone and related offerings revenues almost doubled, at a rate of 93.2% in 2010 over 2009, torecord revenues of $25,179 million from $13,033 million in 2009.

Moreover, the demand for tablets is increasing over the years. Globally, tablet shipments are expectedto touch 150 million units by 2013. Apple launched the iPad in January 2010. In FY2010, the iPadgenerated $5 billion in revenues and showed unit sales of 7.5 million. In the first quarter of 2011,iPad sales were 7.33 million.

Mobile apps are one of the most important factors in driving sales of smartphones. Apple is thestrongest player in the mobile apps market, with approximately 350,000 apps. Its closest competitor,the Android market has 250,000 apps, while Blackberry and Windows Phone 7 has 20,000 and9,000 apps respectively. The mobile app market is expected to exceed $9 billion by 2014. With itsinnovative products such as iPhone and iPad, Apple is in a position to increase its share in thegrowing smartphone and tablet market.

Robust outlook for mobile advertising market provides growth opportunity

Global mobile advertising market is forecast to recover and have a modest growth in near future.According to industry sources the mobile advertising market is forecast to reach approximately $25billion globally by the year 2015, riding on the strong growth of smartphones in both developed andemerging nations.

In April 2010, Apple launched its mobile advertising platform, iAd. Apple had earlier acquired mobilead platform Quattro Wireless to take a foothold in the mobile ad market. iAds combine the emotionof TV advertising with the interactivity of Internet advertising, giving advertisers a dynamic andpowerful new way to bring motion and emotion to mobile users. iAd launched its mobile ad campaignsfrom leading global brands including AT&T, Best Buy, Campbell Soup Company, Chanel, Citi,DirecTV, GEICO, GE, JCPenney, Liberty Mutual Group, Nissan, Sears, State Farm, Target, TurnerBroadcasting System, Unilever and The Walt Disney Studios. Robust outlook for mobile advertisingmarket provides a growth opportunity for the company.

Threats

Rising popularity of Google Android may affect its market share



The Google Android OS for smartphone is gaining rapid popularity. With the acquisition of AndroidInc. in 2005, and the subsequent launch of Google’s mobile OS “Android” changed the competitivelandscape of smartphone business globally. According to Andy Rubin, Google's Vice President ofEngineering and one of the cofounders of the earlier Android Inc., approximately 350,000 Androidsmartphone are activated daily. In comparison with this, every day approximately 150,000 iPhoneare activated. Additionally, Android is fast emerging as the preferred mobile OS for OEMs withmultiple OEMs using the platform for their devices. HTC and Samsung have been aggressivelypushing new mobile phones based on the Android platform. Also, Sony and Motorola are also activelyleveraging the Android platform.

Moreover, the online application store for Android applications “Android Market” is growing at a rapidpace.The Android Market currently offers approximately 250,000 apps, compared to 350,000 offeredby Apple's App Store, although Android has been a late entrant in the market. Increasing popularityof Android may affect the attractiveness of Apple's iOS affecting the market share of Apple.

Frequent absence of Steve Jobs to impact high growth sustenance levels

Apple has been usually viewed along with its charismatic and visionary founder, Mr. Jobs who hasalways been instrumental in managing the growth of the company and leading it to its current size.However, he is not keeping in good health since last several years and will be proceeding on thirdlong medical leave since 2004. This announcement has raised serious concerns about the healthof Mr. Jobs, a survivor of pancreatic cancer. In the near past, he had taken a six-month leave toundergo a liver transplantation. The announcement of leave resulted in an 8% drop in Apple's shareprice.

Mr. Jobs' involvement with the company is highly weighed by all the stakeholders, as he has beeninstrumental in Apple's success after he rescued the company in 1996 by returning from a 12 yearabsence. The sequential launch of many high end tech-gadgets such as iPhone in 2007 followedby iPad in 2010 has enabled the company to create iconic brands for itself with the sleek handhelddevices in techo-gadgets space. Apple is currently also the largest technology company in terms ofmarket capitalization.

The absence of Steve Jobs is feared to delay the launch of next level iPad-II series and other relatedlaunches, which may sublime the growth sustainability of the company. Apple needs more dynamicinnovations if it has to continue its momentum of expanding. Without Mr. Jobs' full-time involvement,that may turn out to be a challenge.

Intense competition may affect revenues and profitability

Apple operates in a highly competitive and rapidly evolving technology industry.The company facesintense competition in consumer electronics, PCs and related software and peripheral productsmarkets. Rapid technological advances in both hardware and software, increasing the capabilitiesand use of PCs and digital electronic devices, characterize these markets. Rapid changes in thetechnology have resulted in the frequent introduction of new products with competitive prices, featuresand performance characteristics.



The company's competitors include Microsoft, Dell, Hewlett-Packard, Fujitsu, Samsung Electronics,Sony and Toshiba, among others.The company is currently focused on market opportunities relatedto mobile communication devices including the iPhone.The mobile communications industry is highlycompetitive with several large, well-funded and experienced competitors. Further, the launch ofiPhone spiked the demand for smartphone with touch functionality and other innovative features.This made several players in the mobile phone market, such as Nokia, HTC, RIM, Palm, Samsungand LG Electronics, launch their respective smartphone devices in the market creating significantcompetition. Intense competition in various markets in which Apple operates may result in the priceerosion which may affect the company's revenues and profitability in the long run.

Dependence on specific suppliers may affect its operations

The company depends on third party suppliers for various components used in its products. Althoughmost components essential to the company's business are generally available from multiple sources,certain key components including microprocessors, enclosures, certain liquid crystal displays (LCDs),certain optical drives, and application-specific integrated circuits (ASICs) are currently obtained bythe company from single or limited sources. Moreover, many key components that are availablefrom multiple sources including NAND flash memory, dynamic random access memory (DRAM) andcertain LCDs, are subject to industry-wide shortages and significant commodity pricing fluctuations.The company's dependence on few suppliers makes it susceptible to supply and pricing risks, whichmay adversely affect the company's operations.



TOP COMPETITORS

The following companies are the major competitors of Apple Inc.

Dell Inc.Fujitsu LimitedHewlett-Packard CompanyInternational Business Machines CorporationSamsung Electronics Co., Ltd.Sony CorporationToshiba CorporationResearch In Motion LimitedNokia CorporationSony Ericsson Mobile Communications ABLenovo Group LimitedMotorola, Inc.Microsoft CorporationAcer IncLG Electronics, Inc.Oracle CorporationGoogle Inc.


Apple Inc.Top Competitors

COMPANY VIEW

An excerpt from the ‘Management's Discussion and Analysis of Financial Condition and Results ofOperations’ section is given below. The statement has been taken from the company’s 10-K filingfor fiscal year 2010.

Fiscal Year 2010 versus 2009

Net sales during 2010 increased $22.3 billion or 52% compared to 2009. Several factors contributedpositively to these increases, including the following:

Net sales of iPhone and related products and services were $25.2 billion in 2010 representing anincrease of $12.1 billion or 93% compared to 2009. Net sales of iPhone and related products andservices accounted for 39% of the Company's total net sales for the year. iPhone unit sales totaled40 million in 2010, which represents an increase of 19.3 million or 93% compared to 2009. iPhoneyear-over-year growth was attributable primarily to continued growth from existing carriers, expandeddistribution with new international carriers and resellers, and strong demand for iPhone 4, whichwas released in the U.S. in June 2010 and in many other countries over the remainder of 2010. Asof September 25, 2010, the Company distributed iPhone in 89 countries through 166 carriers.

Net sales of iPad and related products and services were $5.0 billion and unit sales of iPad were7.5 million during 2010. iPad was released in the U.S. in April 2010 and in various other countriesover the remainder of 2010. As of September 25, 2010, the Company distributed iPad in 26 countries.The Company distributes iPad through its direct channels, certain cellular network carriers' distributionchannels and certain third-party resellers. Net sales of iPad and related products and servicesaccounted for 8% of the Company's total net sales for 2010, reflecting the strong demand for iPadduring the five months following its release.

Mac net sales increased by $3.6 billion or 26% in 2010 compared to 2009, and Mac unit salesincreased by 3.3 million or 31% in 2010 compared to 2009. Net sales per Mac unit sold decreasedby 4% in 2010 compared to 2009 due primarily to lower average selling prices of Mac portablesystems. Net sales of the Company's Macs accounted for 27% of the Company's total net sales in2010 compared to 32% in 2009. During 2010, net sales and unit sales of the Company's Mac portablesystems increased by 18% and 25%, respectively, primarily attributable to strong demand for MacBookPro, which was updated in April 2010. Net sales and unit sales of the company's Mac desktopsystems increased by 43% and 45%, respectively, as a result of higher sales of iMac, which wasupdated in July 2010.

Net sales of other music related products and services increased $912 million or 23% during 2010compared to 2009. This increase was due primarily to growth of the iTunes Store which generatedtotal net sales of $4.1 billion for 2010. The results of the iTunes Store reflect growth of the iTunesApp Store, continued growth in the installed base of iPhone, iPad, and iPod customers, and theexpansion of third-party audio and video content available for sale and rent via the iTunes Store.


Apple Inc.Company View

The Company continues to expand its iTunes content and applications offerings around the world.Net sales of other music related products and services accounted for 8% of the Company's total netsales for 2010.

Net sales of iPods increased $183 million or 2% during 2010, while iPod unit sales declined by 7%during 2010 compared to 2009. Net sales per iPod unit sold increased by 10% to $164 in 2010compared to 2009, due to a shift in product mix toward iPod touch. iPod touch had strong growth ineach of the Company's reportable operating segments. Net sales of iPods accounted for 13% of theCompany's total net sales for the year compared to 19% in 2009.

Fiscal Year 2009 versus 2008

Net sales during 2009 increased $5.4 billion or 14% compared to 2008. Several factors contributedpositively to these increases, including the following:

iPhone revenue and net sales of related products and services amounted to $13.0 billion in 2009,an increase of $6.3 billion or 93% compared to 2008. The year-over-year iPhone revenue growth islargely attributable to the year-over-year increase in iPhone handset unit sales. iPhone handset unitsales totaled 20.7 million during 2009, which represents an increase of 9.1 million or 78% during2009 compared to 2008. This growth is attributed primarily to expanded distribution and strongoverall demand for iPhones. iPhone 3GS was released in the U.S. on June 19, 2009 and in manyother countries over the remainder of 2009.

Net sales of other music-related products and services increased $696 million or 21% during 2009compared to 2008. The increase was due predominantly to increased net sales of third-party digitalcontent and applications from the iTunes Store, which experienced double-digit growth in each ofthe Company's geographic segments during 2009 compared to the same period in 2008. TheCompany believes this is attributable primarily to continued interest in and growth of the iTunes AppStore, continued growth in the Company's base of iPhone, iPad, and iPod customers, and theexpansion of third-party audio and video content available for sale and rent via the iTunes Store.

Partially offsetting the favorable factors discussed above, net sales during 2009 were negativelyimpacted by certain factors, including the following: Net sales of iPods decreased $1.1 billion or 12%during 2009 compared to 2008. iPod unit sales decreased by 1% during 2009 compared to 2008.

Net sales per iPod unit sold decreased 11% to $149 in 2009 compared to 2008, resulting from loweraverage selling prices across all of the iPod product lines, due primarily to price reductions takenwith the introduction of new iPods in September 2009 and September 2008 and a stronger U.S.dollar, offset partially by a higher mix of iPod touch sales.

Mac net sales declined 3% during 2009 compared to 2008, while Mac unit sales increased by 7%over the same period. Net sales per Mac unit sold decreased by 10% during 2009 compared to2008, due primarily to lower average selling prices across all Mac portable and desktop systemsand a stronger U.S. dollar. Net sales of Macs accounted for 32% of the Company's total net salesfor 2009. During 2009, Mac portable systems net sales and unit sales increased by 9% and 20%,



respectively, compared to 2008. This growth was driven by strong demand for MacBook Pro, whichwas updated in June 2009 and October 2008, and which experienced double-digit net sales andunit growth in each of the Company's reportable operating segments compared to the same periodin 2008. The Company also had a higher mix of Mac portable systems sales, which is consistentwith overall personal computer market trends. Net sales and unit sales of the Company's Mac desktopsystems decreased by 23% and 14%, respectively, during 2009 compared to 2008. The decreasein net sales of Mac desktop systems was due mainly to a shift in product mix towards lower-priceddesktops, lower average selling prices across all Mac desktop systems and a stronger US dollar.



LOCATIONS AND SUBSIDIARIESHead Office

Apple Inc.1 Infinite LoopCupertinoCalifornia 95014USAP:1 408 996 1010F:1 408 974 2113http://www.apple.com

Other Locations and Subsidiaries

Apple IrelandApple CanadaHollyhill Industrial Estate7495 Birchmount RoadHollyhillMarkhamCorkOntario L3R 5G2IRLCAN

Apple ChinaApple AustraliaBeijing No. 1 Jianguomenwai AvenueSouth SydneyChaoyang DistrictNew South Wales 1235International Trade BuildingAUS12th FloorBlock 3CHN

Apple India Private LimitedApple Hong Kong5/F Du Parc Trinity2401 Tower One17 Mahatma Gandhi RoadTimes SquareBangaloreCauseway Bay560-001HKGIND

Apple South Asia Pte. Ltd.Apple Malaysia Sdn Bhd.7 Ang Mo Kio Street 64Unit 02 Plaza LevelSingaporeBlock A Wisma Tenggara569086No 45 Medan Setia 1SGPPlaza Damansara Bukit Damansara

Kuala Lumpur 50490MYS


Apple Inc.Locations and Subsidiaries

iTunes SARLApple Korea8 rue Heinrich HeineKangnam-guL-1720Seoul 159LUXASEM Tower

32 stories 32.01KOR

Apple JapanApple Asia LLC163-1480333 Tun Hwa South Road3-20-2 Nishi-ShinjukuSec AShinjuku-ku16th FloorTokyoTWNTokyo Opera CityJPN


Apple Inc.Locations and Subsidiaries

Documents

Apple Inc. - · PDF fileApple Inc. Company Profile Publication Date: 6 May 2011 Europe, Middle East & Africa Americas Asia Pacific 119 Farringdon Road 245 5th