“HTC has not made any contact with Asus regarding this matter, and it will not consider a merger with Asus,” the company said in a posting on the website of Taiwan’s stock exchange.

Asus chairman Johnny Shih said last week the company would not rule out the possibility of acquiring HTC.

Meanwhile, Asus later clarified it has no current investment plans in HTC.

In addition, an unconfirmed report said that there’s an internal feud within top managers of HTC. The company’s Chief Executive Officer Peter Chou shot down the rumors on June 15 by stating that he never had issues with Chia-Lin Chang, the company’s President of Global Sales and Chief Financial Officer.

“It’s impossible to have an internal feud between me and Chia-Lin Chang.” claimed Peter Chou.

Moreover, HTC also claimed “As an international brand, HTC will continue to design world-class innovative smart devices through its pursuit of brilliance brand promise.” HTC CEO Cher Wang promised earlier this month that the company will release a new hero product later this year.