Samsung Invests Record $13.1 Billion In R&D In First Nine Months

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-percent 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 percent as of September, up from 7.7 percent 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.―International Business Times