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Samsung investing $20b into research

Samsung investing $20b into research

Samsung is set to invest around $20 billion in researching emerging technologies.

The company is looking into areas like artificial intelligence over the next three years, with the investment being just a small part of a $161 billion fund going towards component research and capital expenditures.

As reported by CNBC, the $20 billion figure it primarily focused on researching a range of new technologies to support building components for use in the pharmaceutical industry, car components, artificial intelligence and 5G mobile coverage.

It's said 40,000 jobs could be created over the period, with 1,000 of those being for AI researchers in Samsung centres across the globe in the UK, Russia, Canada, the US and South Korea.

The announcement comes just a week after Samsung Electronic confirmed its slowest quarterly profit growth in over a year, which followed a decline in the smartphone market around the world.

In its earnings report, the company put the issues down to "softer sales of smartphones and display panels", and admitted sales of its own flagship Galaxy S9 model have been "slow" thus far.

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