Samsung’s R&D spending hits record high in H1 2019

SEOUL: Samsung Electronics Co.’s R&D spending hit the highest mark ever in the first half of the year as it sought to focus on new growth drivers, its financial report showed.

The South Korean tech giant’s R&D spending totalled a record high of 10.1 trillion Won ($8.4 billion) in the first six months of the year, up 12.2 per cent from a year earlier, according to its semi-annual report.

The proportion of the firm’s R&D expenditure to sales also rose to the highest level of 9.3 per cent, Yonhap news agency reported on Friday.

Samsung’s capital expenditure in semiconductor and display facilities, however, fell sharply to 10.7 trillion Won, the lowest in three years, partly attributable to the weak memory chip market and rising uncertainties from global trade tensions.