Samsung Electronics‘ workplace constructing in southern Seoul / Newsis
Samsung Electronics mentioned Tuesday it made its largest-ever funding in analysis and growth (R&D) and facility enlargement final 12 months.
The tech large spent about 35 trillion gained ($24.09 billion) on R&D initiatives in 2024, up 23.5 % from a 12 months earlier, in keeping with its enterprise report launched within the day.
The 2024 determine marked the best R&D funding Samsung has ever made.
The entire facility funding rose by 500 billion gained on-year to return to 53.6 trillion gained in 2024, additionally an all-time excessive, the corporate mentioned.
The rising funding got here as Samsung is accelerating efforts to plan new progress methods because it faces intensifying challenges within the international market and waning international demand for reminiscence chips.
Final 12 months, Samsung’s market share within the international TV market fell to twenty-eight.3 % from 30.1 % a 12 months earlier, and that within the international smartphone market got here to 18.3 %, down from the earlier 12 months’s 19.7 %.
Its market share within the international DRAM product market shrank to 42.2 % in 2024 from 41.5 % in 2023.
However the firm logged annual income of 300.87 trillion gained in 2024, up 16.2 % from a 12 months earlier, which marked the second-highest yearly determine after the report excessive set in 2022.
Its annual internet revenue surged 122.5 % on-year to 34.45 trillion gained, and its working earnings expanded practically fivefold to 32.72 trillion gained from 6.57 trillion gained, in keeping with its regulatory submitting. (Yonhap)
