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Samsung Electronics world's 4th largest R&D spender

IANS  |  Seoul 

Electronics Co has been ranked No. 4 among 1,000 major global companies in terms of spending on research and development (R&D) over the past one year, a report showed on Thursday.

The South Korean tech juggernaut spent $15.3 billion on R&D projects from the second half of 2017, retaining the No. 4 spot for two years running, according to a report from global accounting and consulting firm (PwC), news agency reported.

The amount was up 6.8 per cent from the same period a year earlier and accounted for 6.8 per cent of Samsung's sales.

US topped the list with $22.6 billion, followed by Alphabet Inc, Google's holding company, with $16.2 billion. German automaker was placed third with $15.8 billion.

Intel's R&D spending rose 2.6 per cent on-year to $13.1 billion, dropping to fifth place from third. came next with $12.3 billion, trailed by with $11.6 billion.

The combined R&D expenditures of the 1,000 firms climbed 11.4 per cent on-year to a record high of $782 billion over the cited period, taking up 40 per cent of the global total.

Meanwhile, Electronics was ranked as the sixth most innovative company in the world in a PwC survey of 869 CEOs and executives across the world.

Apple, and Alphabet retained the top three spots for the second consecutive year.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 13:00 IST