Terry Gou, chairman of Hon Hai Precision Industry, has let slip some crucial information in his inaugural speech at the new headquarters in Shanghai. He explained to the media that Foxconn is "making preparations" for Apple's long rumoured HD TV.

The report refers to the product as "iTV," although Apple cannot use this trademark, already owned by the UK's largest commercial TV network. According to reports, ITV hasn't agreed to sell the name.

Terry Gou only confirmed the plan to work on the Apple TV, but did not offer additional details about the manufacturing process. Apparently, Foxconn hasn't received the orders and there is no information about when production will start.

Just a couple of months ago, Foxconn and Sharp set up a joint adventure. The alliance announced by the two major Asian companies is focused on the manufacturing of Apple's upcoming TV set.

At the time, Foxconn bought a 10 per cent share of Sharp for $808 million (£502.6 million). Apple's interest in the Japanese company might be connected to Sharp's technology allowing it to produce Indium Gallium Zinc Oxide (IGZO) panels. Recent reports have suggested that the Apple HD TV will deliver Siri functionality and FaceTime video calling.

Source: ChinaDaily