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Siemens AG

Chief Economist /

Corporate Relations

Armin Sorg

Source: Siemens

Speed as a Measure of

Innovative Strength

7|18

Service offshoring takes off in Europe - unctad

Siemens AG Chief Economist / Corporate Relations Armin Sorg R&D at Siemens R&D Expenditure of the Top Ten Electrical Engineering Companies 2003 without external R&D orders and public funding Source: Siemens 1) Without GECS (GE Capital Services) 6|18

Siemens AG Chief Economist / Corporate Relations Armin Sorg Source: Siemens Speed as a Measure of Innovative Strength 7|18

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