( MENAFN - IANS) Seoul, March 11 (IANS) said on Tuesday it made its largest-ever in research and development (R&D) and facility expansion last year. The tech giant spent about 35 trillion won ($24.09 billion) on projects in 2024, up 23.5 per cent from a year earlier, according to its business report released in the day, reports Yonhap news agency. The 2024 figure marked the greatest R&D investment Samsung has ever made. The total facility investment rose by 500 billion won on-year to come to 53.6 trillion won in 2024, also an all-time high, the company said. The rising investment came as Samsung is accelerating efforts to devise new growth strategies as it faces intensifying challenges in the global market and waning global demand for memory chips. Last year, Samsung's market share in the global TV market fell to 28.3 per cent from 30.1 percent a year earlier, and that in the global smartphone market came to 18.3 percent, down from the previous year's 19.7 per cent.