NEW DELHI: Samsung Electronics has ruled out listing of its India business for now, saying it will instead focus on accelerating artificial intelligence adoption across its products and expanding its consumer finance arm to drive sales in one of the most important growth markets.

JB Park, President and CEO of Samsung Southwest Asia, said the South Korean giant is looking to deepen its manufacturing footprint in India and has applied under the production-linked incentive (PLI) scheme for components to manufacture mobile phone displays in India.

Samsung runs its largest smartphone manufacturing facility in the world in Noida, which has evolved into a key export hub in recent years.

When asked about any possibility of IPO, Park said: “No, we do not have any such plans as of now”.

While other South Korean peers like Hyundai Motor India and LG Electronics have tapped public markets to raise capital and strengthen their local footprint, Samsung places a preference on internal growth over market-funded expansion.

The strategy reflects a dual aim - leveraging AI to differentiate products in a crowded consumer electronics market while using financing solutions to boost sales amid slowing global demand.

Park said Samsung would be adequately funded through its capital requirement for investment in growth opportunities. Besides IPO, there are different means to acquire capital, such as institutional borrowings or through corporate bonds, among others.

“So, there are multiple options that you can get the working capital in place. So, IPO is not the plan for Samsung,” he said. By prioritising operational expansion over a public listing, Samsung is signalling confidence in longterm growth potential in India.