Apple's research and development expenses grew 33 percent year-over-year in the March quarter, or about $278 million, according to a filing with the US Securities and Exchange Commission found
. Overall spending for the first half of Apple's fiscal 2013 was up over $530 million, representing a 33 percent increase over the first half of 2012. Should Apple maintain higher spending, it could surpass $4 billion in R&D expenses by the end of FY2013.
In the SEC document, Apple explains that the growth in expenses is "due to an increase in headcount and related expenses to support expanded R&D activities," and "critical to its future growth." The company is believed to be working on at least two new product types
, namely a smartwatch and a TV. On top of this the company must continue to research technology for Macs, iPhones, iPods, and iPads, as well as peripherals like the Apple TV set-top and AirPort routers.