Foxconn denies three way split

BOX ASSEMBLER Foxconn Electronics has taken steps to kill any rumours that it is planning to split its company into three.

In a filing with the Taiwan Stock Exchange, which has been seen by Digitimes, Foxconn expressed "gratitude" for the media's interests in its business. Which is more sarcastic than we normally see in official stock exchange filings.

However that does not mean the rumours are wrong, just that Foxconn is nowhere near doing it just yet.

The regulatory filing said that such changes need careful evaluation and the company currently is not processing any plans concerning these issues.

In other words its executives are still just scratching their heads and looking at reports.

The tech press has been abuzz with rumours that Foxconn will spin off its current businesses into three major groups to be put under control of a holding company.

According to a Chinese-language report at Next Magazine, one of the groups will include Foxconn's chassis and connector manufacturing businesses, as well as its R&D team for fully-automated production plant projects and software.

Foxconn's channel retailing business and OEM for products such as consumer electronics and network devices will also be spun off, the rumours claim.

This last group will mainly focus on the China market and Foxconn will set up an operation center in mainland China.

The third group will mainly focus on optoelectronics and monitor businesses as well as LCD TV OEM and LED R&D, according to the rumour mill.

In addition to these three, Foxconn wants to venture into the green energy, medical and biomedical sectors, the Chinese magazine claimed. µ