The global inflation crisis during and after the pandemic pushes technology giants to tighten economic austerity. Apple, which has bought many small startups in the past years, is now on the brakes.
Apple has given up on small startups
Over the years, Apple has been known for recruiting countless startups, large and small, including Beats. Competitive technologies such as Siri digital assistant and Face ID biometric solution appeared in the company’s catalog.
Big success from Apple
In the fiscal year 2020 (October 2019-September 2020), the company paid $1.5 billion for the startups it incorporated. In fiscal 2021, this figure was only $33 million. After October 2021, a purchase of 169 million dollars was made in a total of 9 months.
Although Apple announced financial statements above expectations, it intends to pay more attention to spending in times of crisis. On the other hand, the more sensitive behavior of regulatory institutions caused the company to take a step back. However, Tim Cook stated that he will continue his search in the coming period.
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