Nokia is Top EU Company for R&D Spending
Published on: 14th Oct 2008
Note -- this news article is more than a year old.
R D investment by EU companies has increased by 8.8% compared to the increased R D investment by US companies of 8.6% according to the 2008 edition of the European Commission's annual Industrial R D Investment Scoreboard.
Three EU companies feature in the top ten: Nokia in 5th place (up from 17th), with an R&D investment of EUR5.3 billion (USD7.24 billion), Volkswagen in 9th (up from 14th) and Daimler in 10th (down from 5th). The report says that the world's biggest investor in R&D in 2008 has been Microsoft, with EUR5.6 billion (USD7.65 billion).
Trends show increased sales and profitability for EU companies and for the first time since records began in 2004, R&D investment growth in the EU companies is greater than that of their US counterparts.
"We are pleased that R&D investment growth in EU companies has increased, against the background of a slight fall in the growth rate worldwide," said European Science and Research Commissioner Janez Potoc(nik. "In particular, companies in the energy field are rapidly increasing their R&D investments, responding to the need to make more efficient use of limited resources. However, private sector R&D in Europe remains at 1% of GDP, amidst signs that EU companies are making an increasing share of their R&D investments outside Europe. Therefore, we must continue our efforts to make Europe a more attractive place for business R&D, notably by creating a truly European Research Area, in order to reach the Lisbon objectives ".
The EU Industrial R&D Investment Scoreboard is published annually by the European Commission as part of its Industrial Research Investment Monitoring activity. It shows that worldwide corporate R&D investment growth decreased from 10% in last year's Scoreboard to 9%, but EU corporate R&D investment growth increased by 8.8%, up from 7.4% on last year's Scoreboard. EU companies are almost closing the gap in R&D growth rate compared to all non-EU companies, and it is slightly ahead of the R&D investment growth rate in US Scoreboard companies, which has dropped sharply from 13.3% to 8.6%.
In the telecoms related industry, the report places Nokia at 5th, Samsung at 12th (down from 10th), Alcatel-Lucent jumped from 42nd to 21st place and Motorola dropped from 24th to 27th place. Ericsson came in at 28th place, down from 26th a year ago.