Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 18

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 18
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 including through diminished performance, security vulnerabilities,
malfunctions, or even permanently disabled products. We have a practice of rapidly updating our products and some errors in our products
may be discovered only after a product has been used by our customers, and may in some cases be detected only under certain circumstances
or after extended use. Any errors, bugs, or other vulnerabilities discovered in our code or backend after release could damage our reputation,
drive away customers, allow third parties to manipulate or exploit our data, lower our revenue, and expose us to claims for damages,
any of which could seriously harm our business.

We
also could face claims for product liability, tort, or breach of warranty. Defending a lawsuit, regardless of its merit, is costly and
may divert management’s attention and seriously harm our reputation and our business. In addition, if our liability insurance coverage
proves inadequate or future coverage is unavailable on acceptable terms or at all, our business could be seriously harmed.

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  Table of Contents  

We
face competition from diversified technology providers, as well as competition from providers offering alternative products, which could
negatively impact our results of operations and cause our market share to decline.

A
number of companies are developing software platforms that integrate robotics with their IoT platforms that will compete directly with
our product offerings. Our competition includes software companies such as Team Software and IoT manufacturers such as Unabiz and new
market entrants. There can be no assurance that our current and future competitors will not be more successful than us. We also face
competition from distributors of lower-cost robots, which has, and may continue to, further drive down the average selling price in the
marketplace for floor cleaning products. Moreover, while we believe many of our customers purchase our floor vacuuming robots as a supplement
to, rather than a replacement for, their traditional vacuum cleaners, we also compete with providers of traditional vacuum cleaners.

The
global market for robots is highly competitive, rapidly evolving and subject to changing technologies, shifting customer needs and expectations
and the likely increased introduction of new products. Our ability to remain competitive will depend to a great extent upon ongoing performance
of our suppliers in the areas of product development, operating efficiency and customer support.

We
expect that competition will continue to intensify as additional competitors enter the market and current competitors expand their product
lines. Companies competing with us have, and may continue to, introduce products that are competitively priced, have increased performance
or functionality, or incorporate technological advances that we have