Samsung Electronics Co.’s investment sank to a three-year low in the first quarter of this year as the global tech giant sharply reduced its spending on new plants and equipment amid lingering global economic uncertainties, company data showed Sunday.
Samsung, the world’s top maker of smartphones, spent a total of 7.29 trillion won ($6.52 billion) in capital expenditures and spending on research and development in the January-March period, the lowest quarterly figure since 2010, according to the company’s quarterly report.
Samsung’s first-quarter facility investment of 3.88 trillion won tumbled from a quarterly record of 7.76 trillion won during the same period a year earlier, marking the first time since 2010 that the quarterly figure has fallen below the 3 trillion won level.
Samsung, also the world’s largest maker of computer memory chips, has been cutting back on its facility investment since the second half of 2011 as excessive competition among semiconductor makers has led to a global glut of chips. (Yonhap News)
