Nokia still among world leaders in R&D spending

Nokia has spent more than 6 billion dollars on research and development in the last year. That puts the Finnish mobile firm at 18th spot in a new global ranking of companies’ R&D spending.

Nokia's R&D centre in Ulm, Germany. Image: Stefan Puchner / EPA

The 2013 Global Innovation list from Booz & Company lists spending on research and development between July 2012 and July 2013. It shows Nokia has spent 6.1 billion US dollars on developing new products and services, which is 15.8 percent of the company’s turnover.

Nokia’s difficulties were reflected in the spend, however, as it was 14.4 percent smaller than that recorded the previous year. The company will soon transfer its mobile devices and services division to Microsoft.

German car maker Volkswagen topped the list, with a spend of 11.4 billion dollars on innovation. The company has increased its R&D budget by 22.4 percent compared to the previous year.

Samsung came second, spending 10.4 billion dollars. Roche took third place with a 10.2 billion dollar bill for research and development.