Samsung Electronics has reportedly withdrawn its plans to list its Indian subsidiary on the stock exchange. The company stated that it will now focus on accelerating the adoption of artificial intelligence (AI) across its products to boost sales in India, as well as expanding its consumer finance business.
JP Park, President and CEO of Samsung South Asia, noted that the company also aims to deepen its manufacturing presence in India, including applying for components production under the Production Linked Incentive (PLI) scheme to manufacture mobile phone displays domestically.
Samsung operates the world’s largest smartphone manufacturing facility in Noida, which has grown into a significant export hub in recent years. When asked about the possibility of an IPO, Park clarified, “We do not have any such plans at this time.”
Unlike other South Korean companies such as Hyundai Motor India and LG Electronics, which have leveraged public markets to raise capital and strengthen their local presence, Samsung is prioritizing internal growth over raising funds through the market.
This strategy reflects a dual focus: using AI to differentiate products in a competitive consumer electronics market while utilizing financial solutions to drive sales amid global demand slowdown.
Park added that Samsung has access to sufficient capital for growth investments. “There are many ways to secure operational capital beyond an IPO, including corporate loans and bonds. Hence, an IPO is not part of Samsung’s plan,” he said.
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