Samsung R&D spending hit a record high
Samsung Electronics‘ research and development (R&D) spending scores a high in the first nine months of the year.
Samsung reported on Monday that a record high of $14.3 billion was spent on R&D as it seeks to expand its presence amid intensifying competition with foreign rivals.
The rise in spending is around 600 billion won from the previous year and is a more than a 5 trillion won increase from its tally in the first half of the year.
Samsung invested a total of 16.19 trillion won ($13.73 billion) in R&D in the January-September period to mark its largest spending ever during the cited period, according to its quarterly business report.
The South Korean tech giant said its capital expenditures last year reached 33.5 trillion won, which breaks down to 30 trillion won in chipmaking facilities and 2.1 trillion won in display-related facilities, according to the report.
Samsung has registered a total of 4,947 patents in South Korea and 6,321 patents in the United States in the third quarter of the year.
Over the next three years, Samsung plans to spend 240 trillion won in facilities, 180 trillion won of which will be invested here, reports Yonhap news agency.
The report showed that Samsung’s five major customers in the first nine months of the year were Apple, Best Buy, Deutsche Telekom, Verizon, and Supreme Electronics Co. of Taiwan. They accounted for 15 percent of the company’s total sales.
The number of Samsung employees in South Korea grew to a fresh record high of 114,373 as of September, up 5,375 from a year earlier.
[With Inputs from IANS]
PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views
For all the latest updates, download PGurus App.
- Assam CM Himanta’s wife sues Congress MP Gaurav Gogoi for defamation - September 23, 2023
- Nijjar took training in Pakistan, backed terrorist activities across India: Fresh Intelligence report - September 23, 2023
- India embarks journey to become semiconductor hub; Micron begins construction on $2.7 bn chip assembly and test facility - September 23, 2023