Seoul: Samsung Electronics Co has been ranked No. 4 among 1,000 major global companies in terms of spending on research and development (R&D) over the past one year, a report showed on Thursday.
The South Korean tech juggernaut spent $15.3 billion on R&D projects from the second half of 2017, retaining the No. 4 spot for two years running, according to a report from global accounting and consulting firm PricewaterhouseCoopers (PwC), Yonhap news agency reported.
The amount was up 6.8 per cent from the same period a year earlier and accounted for 6.8 per cent of Samsung’s sales.
US online commerce giant Amazon topped the list with $22.6 billion, followed by Alphabet Inc, Google’s holding company, with $16.2 billion. German automaker Volkswagen was placed third with $15.8 billion.
The combined R&D expenditures of the 1,000 firms climbed 11.4 per cent on-year to a record high of $782 billion over the cited period, taking up 40 per cent of the global total.
Meanwhile, Samsung Electronics was ranked as the sixth most innovative company in the world in a PwC survey of 869 CEOs and executives across the world.
Apple, Amazon and Alphabet retained the top three spots for the second consecutive year. – Gadgets Now