[THE INVESTOR] Samsung Electronics
, the world’s largest manufacturer of smartphones, slightly reduced its expenditures on research and development projects last year, data showed Wednesday, as it sought to acquire key technologies through mergers and acquisitions, data showed on April 2.
Samsung Electronics spent 14.79 trillion won (US$13.2 billion) on R&D last year, which accounted for 7.3 percent of its revenue.
Last year’s R&D spending compares with 14.85 trillion won in 2015 and 15.32 trillion won in 2014, Samsung said in its annual business report.
In 2011, Samsung’s R&D spending exceeded 10 trillion won for the first time.
Samsung’s spending to expand facilities reached 25.5 trillion won last year.
In contrast, LG Electronics, its local rival, jacked up R&D spending slightly to 3.88 trillion won last year, from 3.81 trillion won the previous year.
Last year‘s R&D spending accounted for 7 percent of its revenue, which also marked a rise from 6.7 percent the previous year, according to LG Electronics.
Compared with 2.69 trillion won in 2011, LG’s R&D spending soared 44 percent, it said.
LG Electronics said earlier that it will boost R&D spending to nurture future businesses, such as the Internet of Things.
By Ahn Sung-mi and news wires (email@example.com)