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0000320193
20101027
10-K
474
Of that amount, approximately 5.6 million square feet was leased, of which approximately 2.5 million square feet was retail building space.
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475
Additionally, the Company owns a total of 480 acres of land in various locations.
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As of September 25, 2010, the Company owned a manufacturing facility in Cork, Ireland that also housed a customer support call center and facilities in Elk Grove, California that included warehousing and distribution operations and a customer support call center.
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In addition, the Company owned facilities for research and development and corporate functions in Cupertino, California, including land for the future development of the Company’s second corporate campus.
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The Company also owned a data center in Newark, California and land in North Carolina for a new data center facility currently under construction.
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Outside the U.S., the Company owned additional facilities for various purposes.
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The Company believes its existing facilities and equipment are in good operating condition and are suitable for the conduct of its business.
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The Company has invested in internal capacity and strategic relationships with outside manufacturing vendors and continues to make investments in capital equipment as needed to meet anticipated demand for its products.
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Item 3.
0001193125-10-238044/full-submission.txt
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483
Legal Proceedings As of September 25, 2010, the end of the annual period covered by this report, the Company was subject to the various legal proceedings and claims discussed below, as well as certain other legal proceedings and claims that have not been fully resolved and that have arisen in the ordinary course of bus...
0001193125-10-238044/full-submission.txt
0000320193
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10-K
484
In the opinion of management, the Company does not have a potential liability related to any current legal proceeding or claim that would individually or in the aggregate materially adversely affect its financial condition or operating results.
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However, the results of legal proceedings cannot be predicted with certainty.
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10-K
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Should the Company fail to prevail in any of these legal matters or should several of these legal matters be resolved against the Company in the same reporting period, the operating results of a particular reporting period could be materially adversely affected.
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487
The Company settled certain matters during the fourth quarter of 2010 that did not individually or in the aggregate have a material impact on the Company’s financial condition and results of operations.
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10-K
488
Branning et al.
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0000320193
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10-K
489
v. Apple Computer, Inc.
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0000320193
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10-K
490
Plaintiffs originally filed this purported class action against the Company on February 17, 2005 on behalf of putative classes of consumers and resellers and is currently pending in the Santa Clara Superior Court.
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10-K
491
In general, the consumer plaintiffs allege that the Company “shorted” the coverage provided under its warranties and AppleCare Protection Plan extended service contracts and sold plaintiffs used products that were represented to be new.
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492
In general, the reseller plaintiffs allege that the Company damaged their businesses by opening the Apple retail stores and making misrepresentations in connection with doing so.
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The complaint seeks unspecified damages and other relief.
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10-K
494
Currently no plaintiff classes are certified, although reseller plaintiffs’ motion to certify a class of Apple specialist resellers, is set for hearing on November 2, 2010.
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In re Apple & ATTM Antitrust Litigation This is a purported class action filed against the Company and AT&T Mobility in the United States District Court for the Northern District of California.
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10-K
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The Consolidated Complaint alleges that the Company and AT&T Mobility violated the federal antitrust laws by monopolizing and/or attempting to monopolize the “aftermarket for voice and data services” for the iPhone and that the Company monopolized and/or attempted to monopolize the “aftermarket for software application...
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0000320193
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10-K
497
On July 8, 2010, the Court granted Apple’s motion for summary judgment on all of plaintiffs’ claims related to the alleged bricking of iPhones.
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0000320193
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In the same July 8, 2010 order the Court granted in part plaintiffs’ motion for class certification, certifying a class related to plaintiffs’ antitrust claims.
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0000320193
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499
The case is currently stayed until a status conference with the Judge is held on November 15, 2010.
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500
Mediostream, Inc. v. Acer America Corp. et al.
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0000320193
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10-K
501
Plaintiff filed this action against the Company, Acer America Corp., Dell, Inc. and Gateway, Inc. on August 28, 2007, in the United States District Court for the Eastern District of Texas alleging infringement of U.S. Patent No.
0001193125-10-238044/full-submission.txt
0000320193
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502
7,009,655.
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503
Plaintiff seeks unspecified damages and other relief.
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504
This case is currently pending.
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10-K
505
Mirror Worlds, LLC.
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506
v. Apple Inc.
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507
Plaintiff filed this action against the Company on March 14, 2008, in the United States District Court for the Eastern District of Texas, alleging that certain of the Company’s products infringed U.S. Patent Nos.
0001193125-10-238044/full-submission.txt
0000320193
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508
6,006,227, 6,638,313 and 6,725,427.
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0000320193
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10-K
509
On October 1, 2010, a jury returned a verdict finding the Company had infringed all three patents, and awarding damages of $208 million per patent.
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The jury also found the infringement had been willful.
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511
The court has scheduled post verdict motions, and has set a hearing date of December 9, 2010.
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0000320193
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10-K
512
The Company is challenging the verdict, and will be filing a request for judgment as a matter of law, remittitur, and in the alternative, a request for a new trial.
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10-K
513
Motorola Mobility, Inc. v. Apple, Inc. Motorola Mobility Inc. (“Motorola”) filed complaints against the Company in the United States District Court for the Districts of Florida, Illinois, Delaware and in the International Trade Commission (“ITC”).
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These complaints include claims of patent infringement related to certain of the Company’s products.
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0000320193
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10-K
515
Motorola alleges that certain of its asserted patents are essential to one or more of the GSM, UMTS, 802.16e and 802.11 wireless communications standards, and acknowledges its commitment to license these patents on fair, reasonable, and non-discriminatory (“FRAND”) terms and conditions.
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516
Motorola seeks unspecified FRAND compensation, damages and other declaratory and injunctive relief in these pending district court actions as well as an exclusion order from the ITC.
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These cases are currently pending.
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518
Nokia Corporation v. Apple Inc.; Apple Inc. v. Nokia Corporation Nokia Corporation (“Nokia”) and the Company have asserted multiple claims against one another in lawsuits pending in the United States District Courts for the Districts of Delaware and Wisconsin, in the ITC, in the United Kingdom High Court of Justice and...
0001193125-10-238044/full-submission.txt
0000320193
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10-K
519
These cases include claims and counterclaims by Nokia and the Company of patent infringement related to iPhones, iPods, iPads and Apple computers, and Nokia’s mobile computing devices.
0001193125-10-238044/full-submission.txt
0000320193
20101027
10-K
520
Nokia alleges that certain of its asserted patents are essential to one or more of the GSM, UMTS and 802.11 wireless communications standards, and acknowledges its commitment to license them on FRAND terms and conditions.
0001193125-10-238044/full-submission.txt
0000320193
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521
Nokia seeks unspecified FRAND compensation, damages and other declaratory and injunctive relief in these pending District Court actions as well as an exclusion order from the ITC.
0001193125-10-238044/full-submission.txt
0000320193
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10-K
522
The Company also has asserted claims and counterclaims for declaratory judgments of non-infringement and invalidity of Nokia’s asserted patents as well as for breach of contract, promissory estoppel and antitrust violations.
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0000320193
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523
The Apple iPod iTunes Antitrust Litigation (formerly Charoensak v. Apple Computer, Inc. and Tucker v. Apple Computer, Inc.); Somers v. Apple Inc.
0001193125-10-238044/full-submission.txt
0000320193
20101027
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The first-listed action is a consolidated case filed in the United States District Court for the Northern District of California combining two cases previously pending under the names Charoensak v. Apple Computer Inc. (formerly Slattery v. Apple Computer Inc., filed on January 3, 2005) and Tucker v. Apple Computer, Inc...
0001193125-10-238044/full-submission.txt
0000320193
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525
The second listed action is a related complaint, Somers v. Apple, Inc., which was filed on December 31, 2007, also in the United States District Court for the Northern District of California.
0001193125-10-238044/full-submission.txt
0000320193
20101027
10-K
526
These cases have been filed on behalf of a purported class of direct and indirect purchasers of iPods and iTunes Store content, alleging various claims including alleged unlawful tying of music and video purchased on the iTunes Store with the purchase of iPods and unlawful acquisition or maintenance of monopoly market ...
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0000320193
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10-K
527
The cases are currently pending.
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0000320193
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528
Vogel et al.
0001193125-10-238044/full-submission.txt
0000320193
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529
v. Jobs et al.
0001193125-10-238044/full-submission.txt
0000320193
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10-K
530
On August 24, 2006, plaintiffs filed a purported shareholder class action in the United States District Court for the Northern District of California against the Company and certain current and former officers and directors, alleging improper backdating of stock option grants to maximize certain defendants’ profits, fa...
0001193125-10-238044/full-submission.txt
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10-K
531
On June 27, 2008, plaintiffs filed another, similar purported shareholder class action in the United States District Court for the Northern District of California.
0001193125-10-238044/full-submission.txt
0000320193
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532
The parties have reached a settlement and have obtained preliminary court approval.
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0000320193
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10-K
533
PART II Item 5.
0001193125-10-238044/full-submission.txt
0000320193
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534
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities The Company’s common stock is traded on the over-the-counter market and is quoted on the NASDAQ Global Select Market under the symbol AAPL.
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10-K
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Price Range of Common Stock The price range per share of common stock presented below represents the highest and lowest sales prices for the Company’s common stock on the NASDAQ Global Select Market during each quarter of the two most recent years.
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Holders As of October 15, 2010, there were 29,405 shareholders of record.
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537
Dividends The Company did not declare or pay cash dividends in either 2010 or 2009.
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The Company anticipates that for the foreseeable future it will retain any earnings for use in the operation of its business.
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539
Purchases of Equity Securities by the Issuer and Affiliated Purchasers None.
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Company Stock Performance The following graph shows a five-year comparison of cumulative total shareholder return, calculated on a dividend reinvested basis, for the Company, the S&P 500 Composite Index, the S&P Computer Hardware Index, and the Dow Jones U.S. Technology Index.
0001193125-10-238044/full-submission.txt
0000320193
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541
The Company has added the Dow Jones U.S. Technology Index to the graph to capture the stock performance of companies whose products and services more closely relate to those of the Company.
0001193125-10-238044/full-submission.txt
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542
The Dow Jones U.S. Technology Index incorporates software and computer services companies, as well as technology hardware and equipment companies.
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The graph assumes $100 was invested in each of the Company’s common stock, the S&P 500 Composite Index, the S&P Computer Hardware Index, and the Dow Jones U.S. Technology Index on September 30, 2005.
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0000320193
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10-K
544
Data points on the graph are annual.
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0000320193
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545
Note that historic stock price performance is not necessarily indicative of future stock price performance.
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546
*$100 invested on 9/30/05 in stock or index, including reinvestment of dividends.
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547
Copyright© 2010 S&P, a division of The McGraw -Hill Companies Inc. All rights reserved.
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548
Copyright© 2010 Dow Jones & Co. All rights reserved.
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549
Item 6.
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Selected Financial Data The information set forth below for the five years ended September 25, 2010, is not necessarily indicative of results of future operations, and should be read in conjunction with Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated ...
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10-K
551
(a) The Company did not have any long-term debt during the five years ended September 25, 2010.
0001193125-10-238044/full-submission.txt
0000320193
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552
Long-term obligations excludes non-current deferred revenue.
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0000320193
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553
Item 7.
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Management’s Discussion and Analysis of Financial Condition and Results of Operations This section and other parts of this Form 10-K contain forward-looking statements that involve risks and uncertainties.
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10-K
555
Forward-looking statements can also be identified by words such as “anticipates,” “expects,” “believes,” “plans,” “predicts,” and similar terms.
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556
Forward-looking statements are not guarantees of future performance and the Company’s actual results may differ significantly from the results discussed in the forward-looking statements.
0001193125-10-238044/full-submission.txt
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557
Factors that might cause such differences include, but are not limited to, those discussed in the subsection entitled “Risk Factors” above, which are incorporated herein by reference.
0001193125-10-238044/full-submission.txt
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20101027
10-K
558
The following discussion should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8 of this Form 10-K. All information presented herein is based on the Company’s fiscal calendar.
0001193125-10-238044/full-submission.txt
0000320193
20101027
10-K
559
Unless otherwise stated, references in this report to particular years or quarters refer to the Company’s fiscal years ended in September and the associated quarters of those fiscal years.
0001193125-10-238044/full-submission.txt
0000320193
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10-K
560
The Company assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law.
0001193125-10-238044/full-submission.txt
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10-K
561
Executive Overview The Company designs, manufactures, and markets a range of personal computers, mobile communication and media devices, and portable digital music players, and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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10-K
562
The Company’s products and services include Mac computers, iPhone, iPad, iPod, Apple TV, Xserve, a portfolio of consumer and professional software applications, the Mac OS X and iOS operating systems, third-party digital content and applications through the iTunes Store, and a variety of accessory, service and support ...
0001193125-10-238044/full-submission.txt
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563
The Company sells its products worldwide through its retail stores, online stores, and direct sales force, and third-party cellular network carriers, wholesalers, retailers, and value-added resellers.
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564
In addition, the Company sells a variety of third-party Mac, iPhone, iPad and iPod compatible products, including application software, printers, storage devices, speakers, headphones, and various other accessories and peripherals through its online and retail stores.
0001193125-10-238044/full-submission.txt
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10-K
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The Company sells to SMB, education, enterprise, government, and creative markets.
0001193125-10-238044/full-submission.txt
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The Company is committed to bringing the best user experience to its customers through its innovative hardware, software, peripherals, services, and Internet offerings.
0001193125-10-238044/full-submission.txt
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The Company’s business strategy leverages its unique ability to design and develop its own operating systems, hardware, application software, and services to provide its customers new products and solutions with superior ease-of-use, seamless integration, and innovative industrial design.
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568
The Company believes continual investment in research and development is critical to the development and enhancement of innovative products and technologies.
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569
In conjunction with its strategy, the Company continues to build and host a robust platform for the discovery and delivery of third-party digital content and applications through the iTunes Store.
0001193125-10-238044/full-submission.txt
0000320193
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570
Within the iTunes Store, the Company has expanded its offerings through the App Store and iBookstore, which allow customers to browse, search for, and purchase third-party applications and books through either a Mac or Windows-based computer or by wirelessly downloading directly to an iPhone, iPad or iPod touch.
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571
The Company also works to support a community for the development of third-party software and hardware products and digital content that complement the Company’s offerings.
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Additionally, the Company’s strategy includes expanding its distribution network to effectively reach more customers and provide them with a high-quality sales and post-sales support experience.
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The Company is therefore uniquely positioned to offer superior and well-integrated digital lifestyle and productivity solutions.
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