Samsung spent amount equivalent to 6.8 per cent of its sales on research and development. The first three spots were bagged by Amazon, Alphabet Inc and Volkswagen
Samsung Electronics, famous for its home appliances and smartphones in India has grabbed the 4th spot in terms of highest spending on research and development. The South Korean based technology company spent a staggering $15.3 billion on R&D projects beginning the second half of 2017.
A report published by Pricewaterhouse Coopers (PwC) says that the amount spent by Samsung was up by 6.8 percent from what it had spent on R&D during the same period last year. Samsung has managed to retain the fourth spot in the list for successive two years now.
The first three spots in the ‘largest spenders on research and development list’ were bagged by Amazon, Alphabet Inc and Volkswagen. Amazon, with $ 22.6 billion topped and was followed by Google’s Alphabet Inc with $16.2 billion expenditure on R&D. German automaker Volkswagen bagged the third position with $15.8 billion spend on the same.
Samsung’s R&D network
Samsung’s R&D network consists of 22 centers located across 15 countries in the world. Out of these 22 centers, 6 are dedicated to research in the field of Artificial Intelligence (AI). The global brand has three R&D centers located in India. These three are located in Bangalore, Delhi and Noida.
Samsung India had recently announced its plans to hire more than 1000 engineers from various engineering colleges in India. The hiring, as per the company will be done with an aim to strengthen company’s research and development (R&D) operations in India, a company spokesperson had confirmed on Tuesday.
Sameer Wadhawan, head, human resources, Samsung India had said, “Our R&D centers are focusing on cutting edge technologies, developing innovations for the Indian market as well as for the globe. We will continue to add engineers for research and development in these areas and further our commitment to making a strong research base in India.”
Intel, Microsoft and Apple bagged the fifth, sixth and seventh rank in the list respectively. Intel spent about $13.1 billion while Microsoft spent $12.3 billion on R&D. Smartphone, laptops and tablets maker Apple spent $11.6 billion on R&D.
The report by PwC covered 1000 major global companies.