Samsung is not going the LG way, rules out India IPO for now

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.

In an interview with PTI, 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…