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Samsung Electronics slips to 2nd spot in R&D spending: report

All News 17:46 December 20, 2019

SEOUL, Dec. 20 (Yonhap) -- Samsung Electronics Co., South Korea's top electronics maker, ranked second in terms of research and development (R&D) spending last year, slipping from the top spot the previous year, a report from the European Union (EU) showed Friday.

Samsung spent 14.8 billion euros (US$16.4 billion) for R&D activities, according to the 2019 edition of the EU Industrial R&D Investment Scoreboard, which analyzed the top 2,500 companies in the world.

Samsung's figure was up 10 percent from a year earlier, but was not enough to defend the No. 1 position from Alphabet Inc., the parent company of Google, that spent 18.3 billion euros, up 37 percent from a year ago.

This file photo taken on Aug. 29, 2019, shows Samsung Group's corporate logo. (Yonhap)

Samsung was followed by Microsoft, Volkswagen, Huawei, Apple and Intel, according to this year's report.

Samsung has not missed out of the top 5 on the EU list since 2014.

Samsung was the only South Korean firm on the list of the top 50, the report showed. Among the top 50 R&D investing companies, 22 were from the United States.

LG Electronics Inc. was ranked 57th on the list, while local chipmaker SK hynix Inc. and South Korea's top automaker, Hyundai Motor Co., were No. 63 and No. 69, respectively.


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