The South Korean company Samsung is quite transparent in many ways and is not afraid to show off not only its income, but also individual expenses and the layout of the overall investment plan. Last week was no exception, when the technology giant boasted the expected quarterly results, which were not bad at all. But investors were struck by one more amount, which could not be simply ignored due to its astronomical amount. We are talking about an investment in development and research that broke another record.
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Competition between individual tech giants is heating up, especially with the expected arrival of 5G, augmented reality and other breakthrough technologies, which has forced most companies to spend record amounts on developing new concepts and devices. And it is precisely the South Korean manufacturer Samsung that exceeds all estimates in this respect, at least according to the latest report to investors, which revealed total income and also outlined individual expenses and financial management. The entire technological world was even more surprised by the fact that Samsung invested over 4.36 billion dollars in development and research, and only between January and March of this year. This amount thus officially broke the record from 2018, when the company poured 5.32 trillion South Korean won into science during the same period.
In conversion, this is almost 10% of the total income, which is an astronomical amount compared to the competition. In addition, in the last 12 months, Samsung broke another record and invested 20.19 trillion won in research, surpassing the previous milestone by several hundred million dollars. However, it should be noted that the South Korean company relies heavily on its patents and ranks alongside the most innovative manufacturers who do not hesitate to use their accumulated finances for their long-term benefit. According to the Yonhap agency, which participates in investment analyses, the company has no plans to let up and will continue to support the development of new technologies despite the currently raging crisis. So we can only hope that the representatives will stick to their promises and soon the technological world will be enriched with other inventions.
