Samsung invests record $13.4 billion in R&D through Q3

Seoul: Samsung Electronics’s research and development (R&D) spending hit a record high in the first nine months of the year, its report showed on Monday, as it seeks to expand presence amid intensifying competition with foreign rivals.

Samsung invested a total of 16.19 trillion won ($13.73 billion) in R&D in the January-September period, up 289 billion won from a year earlier, to mark its largest spending ever during the cited period, according to its quarterly business report.

The South Korean tech giant said its capital expenditures last year reached 33.5 trillion won, which breaks down to 30 trillion won in chipmaking facilities and 2.1 trillion won in display-related facilities, according to the report.