Don’t go the LG route: Samsung rules out India IPO, focuses on AI and consumer credit

Samsung Electronics has decided not to list its India operations for the time being, preferring to focus on expanding its artificial intelligence (AI) capabilities, improving local manufacturing and developing its consumer credit offerings in the country, which remains a key market for the South Korean tech giant.

Talk to PTIJB Park, Chairman and CEO of Samsung Southwest Asia, confirmed that the company has no plans to conduct an initial public offering (IPO) in India at the moment. “No, we have no such plans at the moment,” Park said, responding to speculation about a possible listing.

Samsung, which operates its world’s largest smartphone manufacturing plant in Noida, is now focusing on expanding its manufacturing presence in India. The company applied for the Production-Linked Incentive (PLI) program to locally manufacture mobile phone screens, highlighting India’s role as both an important domestic market and export hub.

As a global leader in smartphones, Samsung has been strengthening its presence in India, with its Noida factory becoming a key export hub in recent years. While other South Korean companies, such as Hyundai Motor India and LG Electronics, have tapped the public markets to raise capital, Samsung continues to prioritize internal growth over market-funded expansion.

Park explained that the company has sufficient capital to finance its future growth opportunities through various means, including institutional borrowing and corporate bonds. “So there are several options to put in place the working capital. So IPO is not Samsung’s plan,” he added.

Samsung’s decision to forgo an IPO reflects a broader strategy aimed at long-term growth in India while maintaining tighter control over its financial and strategic direction. The company is also focusing on its ‘Finance+’ scheme, which allows consumers to purchase smartphones, TVs and washing machines through interest-free monthly EMIs. More than 40% of smartphones are sold under this program, which is growing at 10% annually, particularly in the rural markets of North and North East India.

In addition to focusing on financial solutions, Samsung is accelerating the adoption of AI across its product line. Park highlighted the importance of AI in improving user experience, with upcoming innovations to be showcased at CES 2026, the world’s largest consumer electronics and IT show, in Las Vegas next month.

Samsung will unveil upgrades to its AI-powered devices, including the AirDresser, Laundry Combo, WindFree Pro air conditioner, and Jet Bot Steam Ultra robot vacuum, all of which offer more intelligent and personalized experiences. The company will also introduce its new AI-powered Family Hub refrigerator, integrating Google Gemini for the first time to improve on-device food recognition and management.

Samsung’s global AI ambitions are underlined by its significant R&D investments in India, where the company employs more than 10,000 engineers across three R&D centers and one design center. This workforce plays a key role in local and global product innovations, reinforcing India’s strategic importance to Samsung’s growth and technological advancement.