Samsung ranked No. 1 in R&D spending among global IT brands
Samsung is one of the biggest consumer electronics brand in the world and it spends a lot in the research and development of new technologies. Samsung has various in-house R&D centres in its homeland as well as overseas. According to a report from Strategy& (formerly known as Booz & Company), Samsung has been ranked as the No. 1 spender in research and development among all the IT companies worldwide and ranked No. 2 among all the industries worldwide. According to sustainability report 2014, Samsung has increased its spending on R&D personnel by 27 percent since 2010 to a total of 63,628 employees. In 2013, Samsung spent around $13.4 billion, which is around 6.4 percent of its total revenue. Apparently, Samsung is planning to invest on securing innovative technologies to accelerate its growth in the future.
Last year, Samsung announced that it would be setting up an R&D centre in the Silicon Valley, with the entire campus taking up around 8.5-acre of land. In 2012, Samsung announced its plan to set up an R&D facility in Nokia’s home country, Finland.