3 unchanged sentences
iPhone ® is the Company’s line of smartphones based on its iOS operating system.
−Removed: The iPhone line includes iPhone 14 Pro, iPhone 14, iPhone 13, iPhone SE ® , iPhone 12 and iPhone 11.
+Added: The iPhone line includes iPhone 15 Pro, iPhone 15, iPhone 14, iPhone 13 and iPhone SE ® .
Mac ® is the Company’s line of personal computers based on its macOS ® operating system.
3 unchanged sentences
Wearables, Home and Accessories
−Removed: Wearables, Home and Accessories includes:
−Removed: • AirPods ® , the Company’s wireless headphones, including AirPods, AirPods Pro ® and AirPods Max™;
−Removed: • Apple TV ® , the Company’s media streaming and gaming device based on its tvOS ® operating system, including Apple TV 4K and Apple TV HD;
−Removed: • Apple Watch ® , the Company’s line of smartwatches based on its watchOS ® operating system, including Apple Watch Ultra™, Apple Watch Series 8 and Apple Watch SE ® ;
−Removed: • Beats ® products, HomePod mini ® and accessories.
+Added: Wearables includes smartwatches and wireless headphones.
+Added: The Company’s line of smartwatches, based on its watchOS ® operating system, includes Apple Watch Ultra™ 2, Apple Watch ® Series 9 and Apple Watch SE ® .
+Added: The Company’s line of wireless headphones includes AirPods ® , AirPods Pro ® , AirPods Max™ and Beats ® products.
+Added: Home includes Apple TV ® , the Company’s media streaming and gaming device based on its tvOS ® operating system, and HomePod ® and HomePod mini ® , high-fidelity wireless smart speakers.
+Added: Accessories includes Apple-branded and third-party accessories.
| 2023 Form 10-K | 1
−Removed: The Company’s advertising services include various third-party licensing arrangements and the Company’s own advertising platforms.
+Added: The Company’s advertising services include third-party licensing arrangements and the Company’s own advertising platforms.
The Company offers a portfolio of fee-based service and support products under the AppleCare ® brand.
−Removed: The offerings provide priority access to Apple technical support, access to the global Apple authorized service network for repair and replacement services, and in many cases additional coverage for instances of accidental damage and/or theft and loss, depending on the country and type of product.
+Added: The offerings provide priority access to Apple technical support, access to the global Apple authorized service network for repair and replacement services, and in many cases additional coverage for instances of accidental damage or theft and loss, depending on the country and type of product.
Cloud Services
9 unchanged sentences
The Company offers payment services, including Apple Card ® , a co-branded credit card, and Apple Pay ® , a cashless payment service.
+Added: The Company manages its business primarily on a geographic basis.
+Added: The Company’s reportable segments consist of the Americas, Europe, Greater China, Japan and Rest of Asia Pacific.
+Added: Americas includes both North and South America.
+Added: Europe includes European countries, as well as India, the Middle East and Africa.
+Added: Greater China includes China mainland, Hong Kong and Taiwan.
+Added: Rest of Asia Pacific includes Australia and those Asian countries not included in the Company’s other reportable segments.
+Added: Although the reportable segments provide similar hardware and software products and similar services, each one is managed separately to better align with the location of the Company’s customers and distribution partners and the unique market dynamics of each geographic region.
Markets and Distribution
The Company’s customers are primarily in the consumer, small and mid-sized business, education, enterprise and government markets.
−Removed: The Company sells its products and resells third-party products in most of its major markets directly to consumers, small and mid-sized businesses, and education, enterprise and government customers through its retail and online stores and its direct sales force.
+Added: The Company sells its products and resells third-party products in most of its major markets directly to customers through its retail and online stores and its direct sales force.
The Company also employs a variety of indirect distribution channels, such as third-party cellular network carriers, wholesalers, retailers and resellers.
2 unchanged sentences
Many of the Company’s competitors seek to compete primarily through aggressive pricing and very low cost structures, and by imitating the Company’s products and infringing on its intellectual property.
+Added: | 2023 Form 10-K | 2
The Company’s ability to compete successfully depends heavily on ensuring the continuing and timely introduction of innovative new products, services and technologies to the marketplace.
1 unchanged sentence
Principal competitive factors important to the Company include price, product and service features (including security features), relative price and performance, product and service quality and reliability, design innovation, a strong third-party software and accessories ecosystem, marketing and distribution capability, service and support, and corporate reputation.
−Removed: | 2022 Form 10-K | 2
The Company is focused on expanding its market opportunities related to smartphones, personal computers, tablets, wearables and accessories, and services.
14 unchanged sentences
however, there can be no guarantee that the Company will be able to extend or renew these agreements on similar terms, or at all.
−Removed: Substantially all of the Company’s hardware products are manufactured by outsourcing partners that are located primarily in Asia, with some Mac computers manufactured in the U.S.
Research and Development
29 unchanged sentences
Inclusion and Diversity
−Removed: The Company remains committed to its vision to build and sustain a more inclusive workforce that is representative of the communities it serves.
+Added: The Company is committed to its vision to build and sustain a more inclusive workforce that is representative of the communities it serves.
The Company continues to work to increase diverse representation at every level, foster an inclusive culture, and support equitable pay and access to opportunity for all employees.
6 unchanged sentences
Additionally, the Company works to protect the safety and security of its team members, visitors and customers through its global security team.
−Removed: The Company has also taken additional health and safety measures during the COVID-19 pandemic.
Available Information
8 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.