Samsung’s investment in R&D, facility expansion hits record high in 2024
Published on Mar 11, 2025
By IANS
- SEOUL — Samsung Electronics said on Tuesday it made its largest-ever
investment in research and development (R&D) and facility expansion last
year.
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- The tech giant spent about 35 trillion won ($24.09
billion) on R&D projects in 2024, up 23.5 per cent from a year earlier,
according to its business report released in the day, reports Yonhap news
agency.
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- The 2024 figure marked the greatest R&D investment
Samsung has ever made. The total facility investment rose by 500 billion won
on-year to come to 53.6 trillion won in 2024, also an all-time high, the
company said.
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- The rising investment came as Samsung is accelerating
efforts to devise new growth strategies as it faces intensifying challenges in
the global market and waning global demand for memory chips.
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- Last year, Samsung's market share in the global TV market
fell to 28.3 per cent from 30.1 percent a year earlier, and that in the global
smartphone market came to 18.3 percent, down from the previous year's 19.7 per
cent.
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- Its market share in the global DRAM product market shrank
to 42.2 per cent in 2024 from 41.5 per cent in 2023.
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- But the company logged annual revenue of 300.87 trillion
won in 2024, up 16.2 per cent from a year earlier, which marked the
second-highest yearly figure after the record high set in 2022.
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- Its annual net profit surged 122.5 per cent on-year to
34.45 trillion won, and its operating income expanded nearly fivefold to 32.72
trillion won from 6.57 trillion won, according to its regulatory filing.
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- Meanwhile, Samsung’s fourth-quarter net income rose more
than 20 per cent from a year earlier despite the waning global demand for
memory chips, beating market expectations.
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- Its net income totalled 7.75 trillion won (US$5.4
billion) for the October-December period, up 22.2 percent from 6.34 trillion
won a year earlier. Operating profit soared 129.9 per cent on-year to 6.49
trillion won, while sales rose 11.8 per cent to 75.78 trillion won.
