Published: Fri, August 10, 2018
Technology | By Russell Knight

Samsung €19.25 billion R&D for 5G, AI, SoC

Samsung €19.25 billion R&D for 5G, AI, SoC

Its de facto leader Lee Jae-yong was convicted of corruption past year, but released from prison in February.

Total sales for April-June fell 4.1 per cent year-on-year to 58.48 trillion won, with revenues for the company's mobile division plunging 22 per cent in the same period. "Considering the research lab is increasingly focusing more on mass-market technologies recently, Samsung seems to be speeding up the development of autonomous cars based on its artificial intelligence technology".

The company said it will further strengthen ties with smaller businesses and roll out various projects to seek shared growth.

For biopharmaceuticals, Samsung has seen strong growth from both its contract manufacturing and biosimilar businesses.

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Industry watchers said the company's latest investment plan is set to focus on building Samsung's capabilities in the chip segment, as global rivals, especially those from China, have been trying to catch up.

The scion of the founding family, Lee was jailed a year ago for his part in the graft scandal that brought down former president Park Geun-hye.

The world's largest manufacturer of semiconductors and smartphones said it will greatly increase the number of its staff.

Chung said reformist President Moon Jae-in's campaign to clip the wings of the country's powerful family-run conglomerates, known as chaebols, appeared to be losing steam in the face of stonewalling business groups which are "wielding prospects for investment as their weapons".

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Samsung's investment announcement came two days after the finance minister visited a Samsung computer chip factory, where he touted Samsung's importance in South Korea's economy.

The South Korean giant has unveiled a three-year, 180 trillion won ($161bn) investment plan in a wide range of areas as it looks to bounce back from recent financial disappointment.

With about 130 trillion won of the total will be invested in companies in South Korea, and is expected to create 40 thousand jobs, which is 20 thousand more than planned before, said Samsung.

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