We are a global leader in the Automatic Identification and Data Capture (“AIDC”) industry.
−Removed: The AIDC market consists of mobile computing, data capture, radio frequency identification devices (“RFID”), barcode printing, and other workflow automation products and services.
−Removed: The Company’s solutions are proven to help our customers and end-users digitize and automate their workflows to achieve their critical business objectives, including improved productivity and operational efficiency, optimized regulatory compliance, and better customer experiences.
−Removed: We design, manufacture, and sell a broad range of AIDC products, including:
+Added: The AIDC market consists of mobile computing, data capture, radio frequency identification devices (“RFID”), thermal barcode printing, and other workflow automation products and services.
+Added: The Company’s products, services, and software solutions (“offerings”) are proven to help our customers and end-users digitize and automate their workflows to achieve their critical business objectives, including improved productivity and operational efficiency, optimized regulatory compliance, and better customer experiences.
+Added: We design, manufacture, and sell a broad range of AIDC offerings, including:
mobile computers, barcode scanners and imagers, RFID readers, specialty printers for barcode labeling and personal identification, real-time location systems (“RTLS”), related accessories and supplies, such as labels and other consumables, and related software applications.
We also provide machine vision and robotics automation solutions;
−Removed: a full range of services, including maintenance, technical support, repair, managed and professional services;
+Added: a full range of services, including maintenance, technical support, repair,
+Added: managed and professional services;
as well as cloud-based software subscriptions.
−Removed: End-users of our products, solutions and services include those in the retail and e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other
+Added: End-users of our offerings include those in retail and e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other industries.
We operate in 114 facilities with approximately 9,900 employees worldwide.
−Removed: We provide our products, solutions and services globally through a direct sales force and extensive network of over 10,000 channel partners, operating in approximately 185 countries.
+Added: We provide our offerings globally through a direct sales force and an extensive network of over 10,000 channel partners, operating in approximately 176 countries.
We continue to advance our Enterprise Asset Intelligence (“EAI”) vision:
every asset and front-line worker visible, connected, and fully optimized.
−Removed: Through continual innovation, we have expanded beyond the traditional AIDC market to transform activities such as factory production, packages moving through a supply chain, retail shopping, and the hospital patient journey.
+Added: Through continual innovation, we have expanded beyond the traditional AIDC market to transform activities such as factory production, packages moving through a supply chain, retail shopping, the hospital patient journey and first responders addressing public safety and emergency situations.
Data from enterprise assets, including status, condition, location, utilization, and preferences, is analyzed in the cloud to provide prioritized actionable insights.
−Removed: As a result, our solutions enable enterprises to “sense, analyze, and act” more effectively to optimize their activities.
+Added: As a result, our offerings enable enterprises to “sense, analyze, and act” more effectively to optimize their activities.
The need to transform workflows is being driven by secular trends in technology, which include the internet of things ( “IoT” ), cloud-based data analytics, automation, mobility, computer vision, as well as artificial intelligence and machine learning.
The IoT enables the real-time exchange of an increasingly broad set of information among a proliferation of smart, connected devices.
−Removed: The continued rapid growth of mobile computing devices and application software are also significantly expanding use cases throughout enterprises and supply chains.
+Added: The continued rapid growth of mobile computing devices and application software is also significantly expanding use cases throughout enterprises and supply chains.
With these expanded capabilities, end-users can consume and act upon dynamic enterprise data and information anytime and anywhere.
−Removed: Leveraging artificial intelligence through machine learning can analyze real-time data for increased visibility into workflows and actionable insights.
−Removed: Additionally, computer and machine vision technology, which enables the automatic extraction and understanding of useful information from a digital image or video, provides a key element in many of our solutions.
+Added: Leveraging artificial intelligence through machine learning can analyze real-time data for increased visibility into workflows.
+Added: Additionally, computer and machine vision technology, which enables the automatic extraction and understanding of useful information from a digital image or video, provides a key element in many of our offerings.
On June 3, 2022, the Company acquired Matrox Electronic Systems Ltd.
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The operating results of Matrox are included in the EVM segment.
−Removed: On October 7, 2021, the Company acquired Antuit Holdings Pte.
−Removed: (“Antuit”) for $145 million in cash, net of cash acquired.
−Removed: Antuit is a provider of demand-sensing and pricing optimization software solutions for retail and consumer products companies.
−Removed: Through this acquisition, the Company expanded its portfolio of software solution offerings to customers in these industries by combining Antuit’s platform with its existing software solutions and EVM products.
−Removed: The operating results of Antuit are included in the EVM segment.
−Removed: On August 9, 2021, the Company acquired Fetch Robotics, Inc.
−Removed: (“Fetch”) for $301 million, which consisted of $290 million in cash paid, net of cash acquired, and the fair value of the Company’s existing minority ownership interest in Fetch of $11 million, as remeasured upon acquisition.
−Removed: Fetch is a provider of autonomous mobile robot solutions for customers who operate in the manufacturing, distribution, and fulfillment industries, enabling customers to optimize workflows through robotic automation.
−Removed: Through this acquisition, the Company expanded its automation solution offerings within these industries.
−Removed: The operating results of Fetch are included within the EVM segment.
−Removed: Adaptive Vision:
−Removed: On May 17, 2021, the Company acquired Adaptive Vision Sp.
−Removed: (“Adaptive Vision”) for $18 million in cash, net of cash acquired.
−Removed: Adaptive Vision is a provider of graphical machine vision software with applications in the manufacturing industry, as well as a provider of libraries and other offerings for machine vision developers.
−Removed: The operating results of Adaptive Vision are included within the EVM segment.
+Added: On December 27, 2024, the Company entered into a definitive agreement to acquire Photoneo, a leading developer and manufacturer of 3D machine vision solutions.
+Added: The purchase price of approximately €60 million is expected to be funded with cash on hand.
+Added: The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2025.
+Added: The acquired business will become part of the EVM segment.
See Note 5, Business Acquisitions in the Notes to Consolidated Financial Statements for additional details.
Operations and Technologies
−Removed: Our operations consist of two reportable segments that provide complementary offerings to our customers:
+Added: Our operations consist of two reportable segments:
Asset Intelligence & Tracking (“AIT”), which includes barcode and card printing, RFID and RTLS offerings, supplies, and services;
and Enterprise Visibility & Mobility (“EVM”), which includes mobile computing, data capture, fixed industrial scanning and machine vision, services and workflow optimization solutions.
+Added: We believe that the offerings across these segments collectively elevate Zebra’s positioning with our customers, enabling us to better transform workflows.
Asset Intelligence & Tracking
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We provide a range of hardware and software options for capturing location data to satisfy a large variety of requirements for range, accuracy, and precision.
−Removed: Our active and passive RFID products include fixed readers, RFID enabled mobile computers, and RFID sleds that utilize passive ultra-high frequency to provide high-speed, non-line of sight data capture from hundreds or thousands of RFID tags in near real-time.
+Added: Our active and passive RFID products include fixed readers, RFID enabled mobile computers, and RFID sleds that utilize passive ultra-high frequency to provide high-speed, data capture from hundreds or thousands of RFID tags in near real-time without line of sight, complementing the barcode.
Using the Electronic Product Code (“EPC”) standard, end-users across multiple industries use our RFID technology to track high-value assets, monitor shipments, and drive increased retail sales through improved inventory accuracy.
−Removed: Our location solutions offerings include a range of RTLS and services that generate precise, on-demand information about the physical location and status of high-valued assets, equipment, and people.
−Removed: These solutions incorporate active and passive RFID technologies, beacons, and other tracking technologies to enable users to locate, track, manage, and optimize the utilization of enterprise assets and personnel.
+Added: Our location solutions offerings include a range of RTLS offerings that generate precise, on-demand information about the physical location and status of high-value assets, equipment, and people.
+Added: These offerings incorporate active and passive RFID technologies, beacons, and other tracking technologies to enable users to locate, track, manage, and optimize the utilization of enterprise assets and personnel.
We provide substantially all elements of the location solution, including tags, sensors, exciters, middleware software, and application software.
−Removed: We produce and sell stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags suitable for use with our printers, as well as wristbands for use in laser printers.
+Added: We also foster a highly specialized ecosystem of location and tracking partners who complement our offerings and help integrate them into our joint customers’ operations.
+Added: We produce and sell stock and customized thermal labels, wristbands, receipts, ribbons, plastic cards, and RFID tags suitable for use with our printers, as well as wristbands for use in laser printers.
We support our printing products, resellers, and end-users with an extensive line of superior quality, high-performance supplies optimized to a particular end-user’s needs, such as chemical or abrasion resistance, extreme temperature environments, exceptional image quality, or long life.
We promote the use of supplies with our printing equipment.
−Removed: Our supplies business also includes temperature-monitoring labels primarily used in vaccine distribution, which incorporate chemical indicators designed to change color upon exceeding predefined time and/or temperature thresholds.
+Added: Our supplies business also includes electronic sensors and temperature-monitoring labels which incorporate chemical indicators designed to change color upon exceeding predefined time and/or temperature thresholds, used in vaccine distribution and other use cases in healthcare and food safety.
We provide a full range of maintenance, technical support, and repair services.
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We design, manufacture, and sell rugged and enterprise-grade mobile computing products and accessories in a variety of specialized form factors and designs to meet a wide array of enterprise applications.
−Removed: Purpose-built devices ensure reliable operations for targeted use cases, surviving years of rough handling and harsh environments.
+Added: Purpose-built handheld and wearable mobile computers, vehicle mounted computers, tablets and kiosks ensure reliable operations for targeted use cases, surviving years of rough handling and harsh environments.
Industrial applications include inventory management in warehouses and distribution centers;
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and retail and customer facing applications include e-commerce, omnichannel, mobile point of sale, inventory look-up, staff collaboration, and analytics.
−Removed: Our mobile computing products primarily incorporate the Android™ operating system and support local-area and wide-area voice and data communications.
−Removed: Our products are also offered with software tools and services that enable secure data transmission while also supporting application development, device configuration, and field support to facilitate seamless, rapid deployment and maximum customer return on investment.
+Added: Our mobile computing products primarily incorporate the Android™ operating system with software extensions for the enterprise and support local-area and wide-area voice and data communications.
+Added: Our products include software tools and services that enable secure data transmission while also supporting application development, device configuration, and field support to facilitate seamless, rapid deployment and maximum customer return on investment.
Our products often incorporate barcode scanning, global position system and RFID features, and other sensory capabilities.
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They are used in a broad range of applications, ranging from supermarket checkouts to industrial warehouse optimization to patient management in hospitals.
−Removed: The design of these products reflects the diverse needs of these markets, with different ergonomics, multiple communication protocols, and varying levels of ruggedness.
−Removed: In 2021 we introduced fixed industrial scanning and machine vision solutions, and in 2022, we significantly expanded our machine vision
−Removed: solutions through the acquisition of Matrox Imaging.
+Added: The design of these offerings reflects the diverse needs of these markets, with different ergonomics, multiple communication protocols, and varying levels of ruggedness.
+Added: In 2021 we introduced fixed industrial scanning and machine vision offerings, and in 2022, we significantly expanded our machine vision offerings through the acquisition of Matrox Imaging.
Our fixed industrial scanning products automatically track and trace items that move from production through distribution.
Our industrial machine vision platform-independent software, software development kits, smart cameras, vision controllers, frame grabbers, input/output cards, and 3D sensors capture, inspect, assess, and record data from industrial vision systems in factory automation, semiconductor inspection, pharmaceutical packaging, food & beverage, among other use cases.
−Removed: We also provide related software and accessories for these products.
+Added: We also provide related software and accessories for these offerings.
We provide a full range of maintenance, technical support, and repair services.
−Removed: We also provide managed and professional services that, among other things, help customers design, test, and deploy our solutions as well as manage their mobility devices, software applications and workflows.
+Added: We also provide managed and professional services that, among other things, help customers design, test, and deploy our offerings as well as manage their mobility devices, software applications and workflows.
Our offerings include cloud-based subscriptions with multiple service levels, which are typically contracted through multi-year service agreements.
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Workflow optimization solutions:
−Removed: We provide a portfolio of solutions that help our customers improve the agility and productivity of key operational workflows by analyzing and acting on data in real time.
−Removed: Our primary focus is on frontline workers in Zebra’s core customer segments, including retail, transportation and logistics, warehouse and distribution, and healthcare.
+Added: We provide a portfolio of offerings that help our customers improve the agility and productivity of key workflows by analyzing and acting on operational data in real-time.
+Added: Our primary focus is on frontline workers in Zebra’s end markets, including retail, transportation and logistics, manufacturing, and healthcare.
Our workflow optimization solutions include:
−Removed: • Software-based solutions, which include workforce management, workflow execution and task management, demand-sensing, price optimization, prescriptive analytics, as well as communication and collaboration-based solutions.
−Removed: These solutions are typically delivered through cloud-based software subscriptions and leverage big data, artificial intelligence, and mobile and web applications to provide customers with real-time visibility and actionable insights about their business.
−Removed: By analyzing labor, inventory, transactional and real-time situational data, these solutions are able to forecast demand, prescribe actions, schedule workers, and enhance collaboration.
−Removed: Our software-based solutions are available with multiple service levels, and are often contracted through multi-year service agreements;
−Removed: • Retail solutions, which include a range of physical inventory management solutions, including solutions for full store physical inventories, cycle counts, and analytics;
−Removed: • Robotic automation solutions, which include software-powered autonomous robots that enable customers to orchestrate workflows alongside frontline workers, improving productivity and operational efficiency.
−Removed: Our robotic automation solutions are available in a variety of form factors to accommodate many use cases.
+Added: • Software-based offerings, which include workforce management, workflow execution and task management, demand-sensing, price optimization, and prescriptive analytics, as well as communication and collaboration-based offerings.
+Added: These offerings are typically delivered through cloud-based software subscriptions and leverage big data, artificial intelligence, and mobile and web applications to provide customers with real-time visibility and actionable insights about their business.
+Added: By analyzing labor, inventory, transactional and real-time situational data, these offerings are able to forecast demand, prescribe actions, schedule workers, and enhance collaboration.
+Added: Our software-based offerings are available with multiple service levels, and are often contracted through multi-year service agreements;
+Added: • Managed service offerings comprised of software and hardware bundled together, which include a range of physical inventory management offerings for retail, including offerings for full store physical inventories, cycle counts, and analytics;
+Added: • Robotic automation offerings, which include software-powered autonomous robots that enable customers to orchestrate workflows alongside frontline workers, improving productivity and operational efficiency.
+Added: Our robotic automation offerings are available in a variety of form factors to accommodate many use cases, from e-commerce fulfillment to material movement.
Our Competitive Strengths
The following are core competitive strengths that we believe enable us to differentiate ourselves from our competitors:
−Removed: An industry leader focused on improving enterprise workflows
−Removed: We are focused on the key technology solutions that drive improved enterprise workflows, including mobile computing, barcode and card printing, data capture, RFID, fixed industrial scanning, machine vision, and workflow optimization solutions, along with related software, services, and accessories.
−Removed: Our leadership position enables us to work with and support customers globally, in a variety of industries, who are focused on implementing leading-edge solutions.
+Added: An industry leader focused on improving enterprise workflows on the frontline
+Added: We are focused on the key complementary technology offerings that drive improved enterprise workflows on the frontline, including mobile computing, barcode and card printing, data capture, RFID, fixed industrial scanning, machine vision, and workflow optimization solutions, along with related software, services, and accessories.
+Added: Our leadership position enables us to work with and support customers globally, in a variety of industries, who are focused on implementing leading-edge offerings.
High barriers to entry
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We believe these customer relationships and our strong partner network are critical to our success and would be difficult for a new market entrant to replicate.
−Removed: We believe a significant portion of our products and solutions are deployed with specialized product performance and software application requirements, which could result in high switching costs.
+Added: We believe a significant portion of our offerings are deployed with specialized product performance and software application requirements, which could result in high switching costs.
Commitment to innovation and deep industry-specific expertise
−Removed: Over time, we have developed and delivered improved, targeted end-to-end solutions for our customers.
−Removed: We remain committed to leveraging our technology portfolio and expertise in the industries that we service to continue to develop innovative solutions that meet the key needs of our customers.
+Added: Over time, we have developed and delivered improved, targeted end-to-end offerings for our customers.
+Added: We remain committed to leveraging our technology portfolio and expertise in the industries that we service to continue to develop innovative offerings that meet the key needs of our customers.
Highly diversified business mix
We are highly diversified across business segments, end markets, geographies, and customers.
−Removed: Additionally, we have strong recurring business in services, supplies, and software driven by an extensive global installed base of purpose-built products and solutions.
+Added: Additionally, we have strong recurring business in services, supplies, and software driven by an extensive global installed base of purpose-built offerings.
Global reach and brand
We sell to customers directly and through our network of channel partners around the world.
−Removed: This global presence gives us the capability to supply our customers with products, solutions, and services no matter the location of their operations.
−Removed: In addition, we believe we have strong brand recognition with a reputation in the industry as a trusted and strategic partner, known for delivering high quality products that are reliable and durable.
+Added: Our presence gives us the capability to serve our customers globally.
+Added: In addition, we maintain strong brand recognition with a positive reputation in the industry as a trusted and strategic partner known for delivering high quality offerings that are reliable and durable.
Scale advantages
−Removed: We believe the size and scope of our operations, including market leadership, product and solution development investment, portfolio breadth, and global distribution, give us advantages over our competitors.
−Removed: We believe we have the largest installed base of products compared to other companies in our industry.
−Removed: These characteristics enable us to compete successfully, achieve economies of scale, and develop industry-leading solutions.
+Added: We believe the size and scope of our operations, including market leadership, offering development investment, portfolio breadth, and global distribution, give us advantages over our competitors.
+Added: We believe we have the largest installed base of offerings compared to other companies in our industry.
+Added: These characteristics enable us to compete successfully, achieve economies of scale, and develop industry-leading offerings.
Our Business Strategies
Leverage our market leadership position and innovation to profitably grow our core business
−Removed: We expect to drive revenue growth by continuing to outpace our competition in our core businesses, including mobile computing, data capture, barcode printing, and services.
−Removed: We expect to achieve this by leveraging our broad portfolio of solutions and product innovation and continuing to be a strategic partner to end customers.
−Removed: We also expect to drive growth by capitalizing on technology transitions occurring in the industry, including transitions to the 5th generation mobile network (5G) and Android™ operating system in mobile computing and transitions in data capture to technologies involving 2D and 3D imaging and RFID, among others.
+Added: We expect to drive revenue growth by continuing to outpace our competition in our core businesses, including mobile computing, data capture, thermal barcode printing, and services.
+Added: We expect to achieve this by leveraging our broad portfolio of offerings and product innovation and continuing to be a strategic partner to end customers.
+Added: We also expect to drive growth by capitalizing on technology transitions occurring in the industry, including transitions to WiFi 7, the 5th generation mobile network (5G) and Android™ operating system in mobile computing and transitions in data capture to technologies involving 2D and 3D imaging and RFID, among others.
This includes increased focus on market segments and geographies that offer share-gain opportunities.
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We believe that secular technology trends, particularly in IoT, cloud computing, automation, mobility, and artificial intelligence advance our vision and are transforming our customers’ businesses and our industry, providing us with significant new opportunities to create value for our customers and for the Company.
−Removed: We expect to capitalize on these trends, and in particular the proliferation of smart connected sensors and devices in our core market segments, by providing end-to-end solutions that integrate these sensors and devices with cloud-based workflows and analytics applications.
−Removed: We plan to continue investing in the development of technologies that will enable intelligent solutions, providing increased visibility into the enterprise, real-time, actionable information, and improved customer experiences.
−Removed: Our solutions will also increasingly include advanced features, functions, and user experiences to drive additional competitive differentiation and elevate our role as a solutions provider.
+Added: We expect to capitalize on these trends, and in particular the proliferation of smart connected sensors and devices in our core market segments, by providing end-to-end offerings that integrate these sensors and devices with cloud-based software which add value to our customers’ workflows and analytics.
+Added: We plan to continue investing in the development of technologies that serve as the foundation for intelligent operations, providing our customers with visibility, connected frontline workers, and intelligent automation.
+Added: Our offerings will also increasingly include advanced features, functions, and user experiences to drive additional competitive differentiation and elevate our role as a solutions provider.
Increase our opportunity for growth through expansion in adjacent market segments
We plan to drive growth through expansion, organically and inorganically, in adjacent market segments that are synergistic with our core markets.
−Removed: We will focus specifically on segments where our products and solutions, workflow expertise, and customer and industry relationships will enable us to provide significant value to end-users.
+Added: We will focus specifically on segments where our offerings, workflow expertise, and customer and industry relationships enable us to provide significant value to end-users.
Enhance financial strength and flexibility
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Sustainable business model
−Removed: Zebra’s ESG priorities of human capital management, resource conservation, and climate align with our strategic focus and corporate values.
+Added: Zebra’s sustainability priorities of human capital management, resource conservation, and climate align with our strategic focus and corporate values.
Initiatives within these priorities are advanced by our cross-functional Sustainability Council, with executive sponsorship and board oversight.
Our approach helps to ensure that our business is sustainable over the long term for the benefit of our primary stakeholder groups, including employees, customers, partners, and investors.
−Removed: We are driving a high-performance, inclusive and diverse culture, striving to consistently be the employer of choice in the communities where we work and live.
+Added: We are driving a high-performance culture, striving to consistently be the employer of choice in the communities where we work and live.
We also focus on waste reduction, circular economy product innovation with certified refurbished devices, eco-packaging and sustainable product design.
−Removed: Additionally, we have science-based targets on carbon emission reductions in Zebra’s operations and throughout our value chain.
+Added: Additionally, we have science-based targets for carbon emission reductions in Zebra’s operations and throughout our value chain.
We operate in a highly competitive environment.
The need for companies to improve productivity and implement their strategies, as well as the secular trends around IoT, cloud computing, automation, and mobility, are some of the factors that are creating growth opportunities for established and new competitors.
−Removed: Key competitive factors include the breadth and quality of products, solutions and services, as well as pricing, design, performance, durability, geographic availability, warranty coverage, relationships with customers and channel partners, company reputation, and brand recognition.
+Added: Key competitive factors include the breadth and quality of offerings, as well as pricing, design, performance, durability, geographic availability, warranty coverage, relationships with customers and channel partners, company reputation, and brand recognition.
We believe we compete effectively with respect to these factors.
−Removed: Mobile Computing :
−Removed: Competitors in mobile computing and related services include companies that have historically served enterprises with ruggedized devices.
−Removed: For some applications, we compete with companies that provide tablets and smart phones.
+Added: Barcode and Card Printing :
+Added: We consider our direct competition in printing to be producers of on-demand fixed, mobile, and RFID thermal printers.
+Added: We also compete with companies producing printing systems that use technologies such as laser, ink-jet, and direct marking.
+Added: In addition, service bureaus, which provide centralized services, represent an alternative to our card printing offerings.
Competitors include:
−Removed: Datalogic, Honeywell, and Panasonic.
+Added: Avery Dennison, Entrust, Honeywell, Sato, Toshiba TEC, and TSC.
Data Capture, Fixed Industrial Scanning, and Machine Vision :
Competitors that provide a broad portfolio of barcode scanning products and related services that are suitable for most global market applications include Datalogic and Honeywell.
−Removed: We also compete against smaller companies that focus on limited product subsets or specific regions, including Newland and Impinj.
−Removed: Competitors in our fixed industrial scanning and machine vision business include Cognex, SICK, and Keyence.
−Removed: Barcode and Card Printing :
−Removed: We consider our direct competition in printing to be producers of on-demand thermal transfer and direct thermal label fixed and mobile printing systems and RFID printers/encoders.
−Removed: We also compete with companies engaged in the design, manufacture, and marketing of printing systems that use technologies such as ink-jet, direct marking and laser printing, as well as card printers based on ink-jet, thermal transfer, embossing, film-based systems, encoders, laser engraving, and large-scale dye sublimation printers.
−Removed: In addition, service bureaus, which provide centralized services, compete for end-user business and provide an alternative to our card printing solutions.
+Added: We also compete against smaller companies that focus on limited product subsets or specific regions, including Newland.
+Added: Competitors in our fixed industrial scanning and machine vision business include Cognex, Keyence, and SICK.
+Added: Mobile Computing :
+Added: Competitors in mobile computing and related services include companies that have historically served enterprises with ruggedized devices.
+Added: For some applications, we compete with companies that provide tablets and smart phones.
Competitors include:
−Removed: Fargo Electronics (a unit of HID Global), Honeywell, Sato, Toshiba TEC, TSC, Brother, and Dymo.
−Removed: The supplies industry is highly fragmented with competition comprised of numerous companies of various sizes around the world.
+Added: Datalogic, Honeywell, Panasonic, and Urovo.
RFID and RTLS Offerings :
−Removed: We compete with numerous companies operating in this market including Impinj, Chainway, Alien, Rodinbell, JADAK, Ubisense, and Invengo.
+Added: We compete with numerous companies operating in this market including Chainway, Impinj, Invengo, JADAK, Rodinbell, and Ubisense.
+Added: The supplies industry is highly fragmented with competition comprised of numerous companies of various sizes around the world.
Workflow optimization solutions:
−Removed: We compete with a diverse and varied group of companies across our solution offerings worldwide.
−Removed: Competitors range from providers of software-based solutions serving customers in the retail industry to providers of autonomous mobile robot solutions serving customers in the manufacturing, distribution, and fulfillment industries.
−Removed: End-users of our products, solutions and services are diversified across a wide variety of industries.
−Removed: We have three customers, who are distributors of the Company’s products and solutions, that individually accounted for more than 10% of our Net sales during the past three years.
+Added: We compete with a diverse and varied group of companies across our offerings worldwide.
+Added: Competitors range from providers of software-based offerings serving customers in the retail industry to providers of autonomous mobile robot offerings serving customers in the manufacturing, distribution, and fulfillment industries.
+Added: End-users of our offerings are diversified across a wide variety of industries.
+Added: We have three customers, who are distributors of the Company’s offerings, that individually accounted for more than 10% of our Net sales during the past three years.
No other customer accounted for more than 10% of our Net sales during these years.
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Sales and Marketing
−Removed: We sell our products and services primarily through distributors (two-tier distribution), value added resellers (“VARs”), independent software vendors (“ISVs”), direct marketers, and OEMs, and our software solutions primarily through our direct sales force.
−Removed: We also sell our products and services directly to a select number of customers through our direct sales force.
+Added: We sell our offerings primarily through distributors (two-tier distribution), value added resellers (“VARs”), independent software vendors (“ISVs”), direct marketers, and OEMs, and our software offerings primarily through our direct sales force.
+Added: We also sell our offerings directly to a select number of customers through our direct sales force.
Distributors purchase our products and sell to VARs, ISVs and others, thereby increasing the distribution of our products globally.
VARs, ISVs, OEMs, and systems integrators provide end users with a variety of hardware, accessories, software applications, and services.
−Removed: VARs and ISVs typically customize solutions for specific end-user applications using their industry, systems, and applications expertise.
−Removed: Some OEMs resell Zebra-manufactured products and solutions under their own brands as part of their own product offerings.
+Added: VARs and ISVs typically customize offerings for specific end-user applications using their industry, systems, and applications expertise.
+Added: Some OEMs resell Zebra-manufactured offerings under their own brands as part of their own product offerings.
Because these sales channels provide specific software, configuration, installation, integration, and support services to end-users within various industry segments, these relationships are highly valued and allow our products to reach end users in a wide array of industries around the world.
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Finally, we experience some seasonality in sales, depending upon the geographic region and industry served.
−Removed: Our marketing function aligns closely with sales, customer success and product management to market our products and to promote solutions that address the needs of our customers.
+Added: Our marketing function aligns closely with sales, customer success and product management to promote our offerings that address the needs of our customers.
Marketing is responsible for leading strategic cross-functional practices which benefit the broader organization including pricing, enterprise analytics, customer experience, market sizing, brand strategy and channel strategy.
−Removed: From a more traditional sense, the marketing organization is also comprised of regional
−Removed: marketing teams that interface closely with customers, partners, and sellers;
−Removed: plus teams that support external communications, product marketing, digital marketing, marketing operations, and business intelligence functions.
+Added: From a more traditional sense, the marketing organization is also comprised of regional marketing teams that interface closely with customers, partners, and sellers;
+Added: plus teams that support external communications, offering marketing, digital marketing, marketing operations, and business intelligence functions.
Manufacturing and Outsourcing
Final assembly of our hardware products is performed by third parties, including electronics manufacturing services companies (“EMSs”) and joint design manufacturers (“JDMs”).
−Removed: Our products are currently produced in facilities primarily located in the Asia-Pacific region, including China, Taiwan, Vietnam, and Malaysia, as well as Mexico and Brazil.
+Added: Our products are currently produced in facilities primarily located in the Asia-Pacific region, including China, Taiwan, Vietnam, Malaysia, and Mexico.
The EMSs and JDMs produce our products to our design specifications.
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Production facilities for our supplies products are located in the U.S.
−Removed: and Western Europe.
We also supplement our in-house supplies production capabilities with third-party manufacturers, principally located in Asia-Pacific.
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Research and Development
−Removed: The Company devotes significant resources to developing innovative solutions for our target markets and ensuring that our products, solutions, and services maintain high levels of reliability and provide value to end-users.
+Added: The Company devotes significant resources to developing innovative offerings for our target markets and ensuring that our offerings maintain high levels of reliability and provide value to end-users.
Research and development expenditures for the years ended 2024, 2023 and 2022 were $563 million, $519 million and $570 million, or 11.3%, 11.3% and 9.9% of Net sales, respectively.
−Removed: Worldwide, we have employed approximately 2,800 engineers and innovation and design experts, who along with contractors, are focused on strengthening and broadening our extensive portfolio of products and solutions.
+Added: Worldwide, we have employed approximately 2,750 engineers and innovation and design experts, who along with contractors, are focused on strengthening and broadening our extensive portfolio of offerings.
Intellectual Property
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As of December 31, 2024, the Company owned approximately 1,700 trademark registrations and trademark applications, and approximately 7,150 patents and patent applications, worldwide.
−Removed: We believe that our intellectual property will continue to provide us with a competitive advantage in our product areas as well as provide leverage for future technologies.
−Removed: Our success depends more upon our extensive know-how, deep understanding of end-user processes and work-flows, innovative culture, technical leadership and marketing and sales abilities.
+Added: We believe that our intellectual property will continue to provide us with a competitive advantage in our offerings as well as provide leverage for future technologies.
+Added: Our success depends more upon our extensive know-how, deep understanding of end-user processes and workflows, innovative culture, technical leadership, and marketing and sales abilities.
Although we do not rely only on patents or other intellectual property rights to protect or establish our market position, we will enforce our intellectual property rights when and where appropriate.
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As of December 31, 2024, the Company had approximately 9,900 employees globally, with a majority in sales and technical roles.
−Removed: Our employees work in 55 countries with a majority of our employees located outside of the U.S.
−Removed: Some portions of our business, primarily in Europe, China, and India, are subject to labor laws that differ significantly from those in the U.S.
−Removed: In Europe, for example, it is common for a works council to represent employees when discussing matters such as compensation, benefits, restructurings, and layoffs.
+Added: Our employees work in 54 countries with 45% of our employee population residing in the U.S.
+Added: Some locations where business is conducted, primarily in Europe, China, and India, are subject to labor laws that differ significantly from those in the U.S.
The Company is committed to attracting, developing, and retaining talent to enable our strategic vision and purpose.
−Removed: This commitment directly shapes our approach to fostering a culture of inclusion and diversity to drive innovation and enables employees to reach their potential.
+Added: This commitment directly shapes our approach to fostering a culture of belonging and advances employee engagement.
+Added: It is Zebra’s policy to provide equal employment opportunity to all applications and employees.
+Added: Our vision is to leverage the workforce where employees can bring their best selves to work, and to be a workspace where all employees are seen, heard, valued and respected.
+Added: We believe this increases Zebra’s innovation.
We believe that our strong Company culture is a key contributor to our success.
−Removed: In 2023 we refreshed our company values, which are Lead through Innovation;
+Added: Following the refresh of Zebra’s values (Lead through Innovation;
Deliver Excellence with Agility;
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Succeed as One;
−Removed: and Make a Positive Impact.
−Removed: Together, we create new ways of working that make everyday life better for organizations, their employees and those they serve.
−Removed: Employee engagement within the Company is consistently high with the most recent measures scoring above relevant benchmarks for technology companies.
−Removed: Furthermore, as recognition of the Company’s strong culture and commitment to its employees, the Company was ranked #66 on Newsweek’s list of Global Most Loved Workplaces, #5 on Fast Company’s list of the Best Workplaces for Innovators, and was Great Place to Work-Certified™ in 2023.
−Removed: The wellbeing of our employees remains a core focus.
−Removed: We have benefits that demonstrate our commitment, including zDay, (a paid, Company-wide day off for all eligible Zebra employees), summer hours, and Focus Fridays to encourage meeting-free
−Removed: time on Friday afternoons.
−Removed: In 2023 we launched our new Employee Experience Community, where employees from around the globe provide their input to improve people-related programs.
+Added: and Make a Positive Impact) in 2023, we launched our culture reinvigoration campaign in 2024.
+Added: The campaign’s action-based workshop, experienced virtually or in person, provides employees an opportunity to learn and share experiences relating to the importance of Zebra’s culture and values.
+Added: Employee engagement within the Company is consistently high and measures above relevant benchmarks for technology companies.
+Added: Furthermore, as recognition of the Company’s strong culture and commitment to its employees, Zebra was ranked #78 on Newsweek’s list of Global Most Loved Workplaces, and #51 on Fast Company’s list of the Best Workplaces for Innovators.
+Added: The well-being of Zebra’s employees remains a core focus, and we have benefits reflecting this commitment, including zDay, (a paid, Company-wide day off for all eligible Zebra employees), summer hours, and Focus Fridays (which encourage meeting-free time on Friday afternoons).
Talent Development
Zebra is committed to creating an environment that fosters continuous learning.
−Removed: We believe that effective career development happens when employees and managers have open discussions regarding their development plans and the best way to use available resources to support their learning and development.
−Removed: All Zebra employees have access to the Zebra Education Network, an online learning platform, offering a wide variety of learning and development resources.
−Removed: Employees are able to make choices around their development with broad access to learning content and can connect this to their individual development plans.
−Removed: We also offer annual training and certification programs for all employees globally, including mandatory compliance training.
−Removed: We offer ample employee development opportunities and have expanded these offerings through our Global Learning and Leadership Roadmap (“Roadmap”) in 2023.
−Removed: The Roadmap reflects Zebra’s enterprise-wide development programs and is supplemented through various functional and business unit offerings, focused on functional development needs.
+Added: We believe that effective career development happens when employees and managers have open discussions regarding their development plans and how best to use Zebra’s resources to support their learning and career growth.
+Added: These resources include the Zebra Education Network, an online learning platform available to all employees offering a wide variety of learning content that employees can connect to their individual development plans.
+Added: We also offer annual training and certification programs, including mandatory compliance training.
+Added: We also have structured mentorship programs for our employees.
+Added: Zebra’s Global Learning and Leadership Roadmap outlines our development programs and is supplemented through various functional and business unit offerings, focused on functional development needs.
The Roadmap invites all employees to participate in their development at any stage of their career.
−Removed: A highlight of our program offerings includes Zebra Foundations, a course designed to help all new employees learn about Zebra, our vision, purpose, culture and values, and understand resources available, all taught through hands-on, gamified learning experiences and interactive presentations.
−Removed: We also offer Zebra’s Leadership Essentials, which is designed specifically for employees new to leading others and fosters their leadership and management skill development.
−Removed: This course focuses on values, team engagement, coaching and feedback, delegation and development, and performance management and innovation.
−Removed: For more senior management, Zebra offers a series of leadership programs and experiences, designed to advance the development of leaders at critical stages of their careers.
−Removed: Senior leaders in Zebra nominate specific candidates for these leadership programs.
−Removed: We connect nominations for these programs to our annual talent review and succession planning process.
−Removed: Our comprehensive talent review includes the assessment of our future leadership pipeline and skills needed to proactively develop employees for the future.
−Removed: Regular talent discussions are held by Executive Leadership to align on critical planning activities and now include a review of the leadership development alumni and progress of prior participants of our nominated leadership development programs.
−Removed: Inclusion & Diversity
−Removed: Our vision is to leverage a diverse workforce where employees can bring their best selves to work and to be an inclusive workspace where all employees are seen, heard, valued, and respected.
−Removed: We believe an inclusive and diverse workforce increases Zebra’s innovation, and drives employee development and engagement.
−Removed: Our current aspirations for diverse representation are to increase the representation of women globally, and ethnic racial minority groups across the total organization.
−Removed: These aspirations also include increased representation for both groups for leadership roles (director level and above).
−Removed: To support these aspirations, we routinely review our progress through inclusion survey scores, ERG engagement, diversity of candidate slates, succession plans, and voluntary turnover, which drive shared accountability across the organization.
−Removed: Additionally, we partner with outreach organizations (Disability:IN, Hispanic Alliance for Career Enhancement (HACE), and Hiring our Heroes (HOH)) to expand our talent acquisition reach to historically underrepresented groups.
−Removed: We will continue to focus on the development and retention of talent that creates opportunities for progress toward our aspirations.
−Removed: Our Company-wide 4C Framework will also continue to guide our Inclusion & Diversity (I&D) strategy, encouraging all employees to contribute to I&D in ways meaningful to them and their work at Zebra:
−Removed: Advancing culture of belonging through continuous learning.
−Removed: Providing insights to inspire curiosity for progress and individual advancement.
−Removed: Connecting actions in the community with our philanthropy philosophy.
−Removed: Advancing customer relationships through shared I&D aspirations.
−Removed: Our focus on I&D continues through the expansion of our Employee Resource Groups (ERGs), now with over 20% employee membership across the globe.
−Removed: With two new ERGs in 2023, we now have nine employee-led ERGs, along with an employee-led sustainability network, that are pivotal to our culture of inclusion and are aligned with our 4C model.
−Removed: All of our ERGs are sponsored by members of our Executive Leadership Team.
−Removed: Our I&D Advisory Council, comprised of Executive Leadership Team members and leaders of our ERGs, oversees our strategy, governance, and progress against aspirations for an inclusive culture and diverse representation at Zebra.
−Removed: We proactively collaborate with our ERG leaders, members, and allies to support and deliver continuous learning, with input provided to refresh our Inclusive Leadership training and Connect through Inclusion Workshops.
−Removed: Our employees actively participate in volunteering activities, supported through our Zebra Gives programs.
−Removed: In 2023 our employee volunteerism (measured by use of volunteer paid time off) increased by 30% over 2022.
−Removed: Through our community partnerships, our employees leverage their talents and experience to have a positive impact on important community causes and outreach, including advancing STEM education along with our I&D vision.
−Removed: Through partnerships to advance STEM, we
−Removed: sponsor educational events, mentor teams and individuals, and pilot programs to widen Zebra’s future talent pipeline.
−Removed: Our philanthropy focus extends to Healthcare and Disaster Relief where we maintain relationships with key strategic partners.
−Removed: In addition, we benchmark and learn from a network of organizations through our membership of the Alliance for Global Inclusion, where we also participate in the Alliance Index to inform our internal I&D strategy.
−Removed: In 2023 Zebra received a perfect score of 100 in the Human Rights Campaign Foundation's 2023-2024 Corporate Equality Index, the foremost benchmarking survey and report measuring how U.S.-based companies promote LGBTQ+ workplace equality through corporate policies, benefits, and practices.
−Removed: We intend to continue participating in such indices into 2024 to inform the choices we make on inclusive policies and practices.
+Added: New employees complete our Foundations course where they learn about Zebra, our vision, purpose, culture, and available resources, all taught through hands-on experiences and interactive presentations.
+Added: Employees who are new to leading people can complete our Leadership Essentials and our Inclusive Leadership courses, which are designed to foster their leadership and management skills.
+Added: Senior Zebra leaders can also nominate employees for a series of leadership programs and experiences designed to advance the nominees’ development at critical stages of their careers.
+Added: We connect these nominations to our annual talent review and succession planning process, which includes an assessment of our future leadership pipeline so that we can proactively develop our high potential employees for the future.
+Added: Employee Resource Groups (ERGs)
+Added: Zebra has ten employee-led ERGs, each of which is open to all employees.
+Added: Over 25% of our employees are members of at least one ERG.
+Added: We continue to expand membership across the business.
+Added: Community Engagement and Philanthropy
+Added: We have established partnerships with local organizations to forge meaningful relationships within the communities where Zebra operates and have closely tied our outreach strategy with our work in these communities.
+Added: Our employees actively participate in volunteering activities and are supported through our Zebra Gives programs.
+Added: Through Zebra’s community partnerships, our employees leverage their talents and experience to make a positive impact on important community causes, including the advancement of STEM education.
+Added: Through our partnerships to advance STEM, we sponsor educational events, mentor teams and individuals, and pilot programs to widen Zebra’s future talent pipeline.
+Added: Our philanthropy efforts focus on healthcare and disaster relief where we maintain relationships with key strategic partners.
Regulatory Matters
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The use of wireless voice, data, and video communications systems requires radio spectrum, which is regulated by government agencies throughout the world.
−Removed: In the U.S., the Federal Communications Commission (“FCC”) and the National Telecommunications and Information Administration (“NTIA”) regulate spectrum use by non-federal entities and federal entities, respectively.
+Added: In the U.S., the Federal Communications Commission (“FCC”) and the National Telecommunications and Information Administration (“NTIA”) regulate spectrum use by commercial entities and federal entities, respectively.
Similarly, countries around the world have one or more regulatory bodies that define and implement the rules for use of the radio spectrum, pursuant to their respective national laws and international coordination under the International Telecommunications Union.
−Removed: We manufacture and market products in spectrum bands already made available by regulatory bodies, these include voice and data infrastructure, mobile radios, and portable or hand-held devices.
+Added: We manufacture and market products to be used in spectrum bands already made available by regulatory bodies, these include voice and data infrastructure, mobile radios, and portable or hand-held devices.
Consequently, our results of operations could be positively or negatively affected by the rules and regulations adopted from time-to-time by the FCC, NTIA, or regulatory agencies in other countries.
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The availability of additional radio spectrum may provide new business opportunities, and consequently, the loss of available radio spectrum may result in the loss of business opportunities.
−Removed: Regulatory changes in current spectrum bands may also provide opportunities or may require modifications to some products so they can continue to be manufactured and marketed.
+Added: Regulatory changes in current spectrum bands may also provide opportunities or may require modifications to some products so they can continue to operate as expected.
+Added: See Item 1A, Risk Factors for additional information regarding risks relating to wireless regulatory matters.
Other Regulatory Matters
Some of our operations use substances regulated under various federal, state, local, and international laws governing the environment and worker health and safety, including those governing the discharge of pollutants into the ground, air and water, the management and disposal of hazardous substances and wastes and the cleanup of contaminated sites.
−Removed: Certain products are subject to various federal, state, local, and international laws governing chemical substances in electronic products.
+Added: Certain products are subject to various federal, state, local, and international laws governing chemical substances in electronic offerings.
During 2024, compliance with U.S.
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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.