Perhaps a reason why Apple isn't wowing its critics on its latest devices is that it spends little on research and development compared to other tech makers, according to a report.
A new report from the European Union lists the top 50 companies' research and development spending and Apple is ranked No. 46 on the list of 2,000 global companies, according to the report. The top 10 is listed as:
- Johnson & Johnson
Samsung reportedly spent $11.2 billion, Microsoft spent $10.6 billion and Google spent $6.7 billion. Apple spent $3.5 billion.
The amount is considerably smaller than Samsung and Google, who are both considered rivals. However, Samsung manufactures and designs more than just smartphones and Google is creating self-driving cars, so the two may be spending a little more than a company creating hardware. Apple also has shown a large amount of growth (more than 200 percent) in both sales and R&D since 2004.
Still, it has to make people wonder how Apple is being outspent by Qualcomm (No. 38), Oracle (No. 29) and Hewlett Packard (No. 45). Perhaps if Apple spent a little more on innovation we would all have Apple TVs, wearable computers and an iWatch by now.