Seoul, Nov 17 (SocialNews.XYZ) South Korean tech giant Samsung Electronics Co. has said it invested a record 15.3 trillion won or $13.1 billion in research and development (R&D) in the first nine months of this year.
Samsung recorded a 14.6-per cent on-year rise in its R&D spending in the January-September period, the company said in a business report.
In the first half, the company invested 10.1 trillion won in R&D, Yonhap news agency recently reported.
The ratio of R&D spending to sales reached 9 per cent as of September, up from 7.7 per cent at the end of last year.
The rise in R&D investment came as the company is stepping up innovation efforts in new technologies, including 5G and artificial intelligence (AI), to foster new growth engines.
The company also acquired 2,446 patents at home and 4,821 patents in the United States in the first nine months, it added.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz