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Apple estimated to have spent almost $100 billion on R&D over the past 5 years

By Cookie Monster - on 11 Dec 2022, 1:02am

Apple estimated to have spent almost $100 billion on R&D over the past 5 years

Apple invests heavily in research and development (R&D) to stay ahead of the competition. According to an estimate from Finbold, Apple spent $97.37 billion on R&D between 2018 and 2022.

R&D expenditure increased 84.33% from $14.2 billion in 2018 to $26.25 billion in 2022. Data from Finbold indicates Apple spent $16.22 billion, $18.75 billion and $21.91 billion in 2019, 2020 and 2021 respectively.

Finbold believes the increase in R&D spending will see Apple enter a new product or service category soon. The bigger budget will also help Apple accelerate its efforts to own and control technology in its primary devices.

Apple is believed to be working on a lineup of mixed reality devices, foldable devices and an electric vehicle (EV). While its first mixed reality headset is expected to be unveiled in 2023, foldable devices and the EV are likely to arrive in 2025 at the earliest.

Source: Finbold

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