November 05, 2024

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[THE INVESTOR] Samsung Electronics ranked No. 4 among 2,500 major global companies in terms of expenditures on research and development projects over the 2016-2017 period, data showed on Dec. 11.

According to the 2017 EU Industrial R&D Investment Scoreboard released by the European Commission, the South Korean tech giant spent 12.2 billion euros (US$14.30 billion) in R&D projects over the period, down two notches from the previous year.

The report said the findings are based on the 2016 calendar year, but added significant proportions have financial years ending on March 31, 2017.

It marked the sixth consecutive time for Samsung to be included in the top five list in annual research.

Germany-based Volkswagen was the top player on the list by spending 13.7 billion euros, trailed by Microsoft with 12.4 billion euros. Intel was the fifth-largest spender at 12.1 billion euros.

Samsung’s smaller Korean rival LG Electronics was ranked at 50th place, and Hyundai Motor and SK hynix came in at 77th place and 83rd place, respectively, the research showed.

By Alex Lee and newswires (alexlee@heraldcorp.com)