April 25, 2024

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[THE INVESTOR] Samsung Electronics was ranked fourth in research and development spending among global tech giants this year, industry data showed on Oct. 30.

According to market researcher Strategy&, the Korean company is expected to spend US$12.74 billion this year, making it the only Asian player to be included in the top 10 list.

Amazon.com topped the rankings with US$16.09 billion, followed by Alphabet with US$15.5 billion. Intel made the third spot with R&D spending estimated at US$12.74 billion.

Korea‘s LG Electronics, Hyundai Motor, and SK hynix Inc. were placed at 48th, 79th, and 84th place, respectively.

The United States had the highest number of companies in the top 100-list at 40 firms, trailed by Japan with 16 businesses and China with six firms.

By Alex Lee and newswires (alexlee@heraldcorp.com)