- Samsung spent 14.8 billion euros (16.4 billion) on R&D
- Samsung was the only South Korean firm in the top 50 of the EU Industrial R&D Investment Scoreboard
South Korea based Samsung Electronics has secured the second position in terms of research and development (R&D) spending last year according to an European Union (EU) report. Alphabet Inc, the parent company of Google stood first according to this report. Samsung took the first spot in this report in 2017.
According to the 2019 edition of the EU Industrial R&D Investment Scoreboard, Samsung spent 14.8 billion euros (16.4 billion) on R&D.This was 10 per cent higher than the figure of last year. The report analysed top 2,500 companies in the world.
Microsoft, Volkswagen, Huawei, Apple and Intel follow Samsung
Google spent 18.3 billion euros on R&D. The company spend 37 per cent more on R&D compared to a year earlier as per a report by Yonhap news agency.
Samsung was followed by Microsoft, Volkswagen, Huawei, Apple and Intel as per the report. Samsung has featured among the top five in the list since 2014. In the report, Samsung was the only South Korean firm in the top 50. 22 companies from the United States featured in the top 50. South Korea’s LG Electronics ranked 57th while SK Hynix and Hyundai Motor secured the 63rd and 69th position on the list,respectively.
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