Huawei beats Samsung in Global R&D Investment ranking

Huawei has once again left Samsung behind and made its place in the top five Global R&D Investment ranking. The Chinese tech maker has successfully secured the fifth position, ahead of Volkswagen, along with some American ICT companies.

The European Commission has recently released the 2023 Global R&D Firms Investment report, which depicts that Huawei has surpassed Samsung and Volkswagen. While the South Korean company was once the world’s top R&D firm, it has now slipped to the seventh spot.

Notably, Samsung is the only industry in the top ten investment ranking to see a decline. In 2021, the company was in the sixth position. However, this spot has been grabbed by the German automaker Volkswagen with a €18.98 billion investment.

Meanwhile, Samsung has an investment score of €18.435 billion. Apart from Huawei, tech giants like Alphabet, Meta, Microsoft, and Apple managed to appear in the top five listings.

Speaking of Huawei, the company has exceeded its R&D Investment in many sectors around the globe. Earlier, the Senior Vice President of Huawei – Yang Weijun cited that the company has significantly increased its investment in research and development.

Over the past decade, the company has boasted an overall investment of 970 billion yuan. Despite the U.S. ban and other foreign challenges, Huawei continues to invest in R&D platforms to meet the requirements of customers.

(Source)