Samsung invests record $13.1 bn in R&D in first nine months

SEOUL: 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-per cent 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 per cent as of September, up from 7.7 per cent 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.