8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
(Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934)

Date of Report (Date of earliest event reported): July 22, 2005

SOLECTRON CORPORATION

(Exact name of registrant as specified in charter)

Delaware 1-11098 94-2447045

(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.)

847 Gibraltar Drive, Milpitas, California 95035

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (408) 957-8500

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

TABLE OF CONTENTS

	ITEM 8.01 Other Events
	ITEM 9.01 Financial Statements and Exhibits
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1

ITEM 8.01 Other Events

On July 27, 2005, Solectron Corporation (the “Company”) issued a press release announcing that its Board of Directors has approved a stock repurchase program whereby the Company is authorized to repurchase up to $250 million of the Company’s common stock. A copy of the press release is attached as Exhibit 99.1 to this Current Report and is incorporated by reference herein.

ITEM 9.01 Financial Statements and Exhibits

(c) Exhibits

Exhibit
No.	Description
99.1	Press release dated July 27, 2005 announcing stock repurchase program.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 27, 2005	Solectron Corporation
	/s/ Warren Ligan
	Warren Ligan
	Senior Vice President and Chief Accounting Officer

EXHIBIT INDEX

Exhibit
No.	Description
99.1	Press release dated July 27, 2005 announcing stock repurchase program.

EX-99.1

EXHIBIT 99.1

Solectron Announces $250 Million Stock Repurchase Program

For Immediate Release: July 26, 2005

MILPITAS, Calif. — Solectron Corporation (NYSE: SLR), a leading provider of electronics manufacturing and integrated supply chain services, announced today that its Board of Directors has authorized a stock repurchase program pursuant to which up to $250 million of the company’s outstanding common stock may be repurchased over the next 12 months through open market transactions. The timing and amount of repurchase transactions will depend on market conditions and corporate and regulatory considerations, and may be suspended or discontinued at any time. The repurchases will be made pursuant to a company 10(b)5-1 trading plan.

“This action demonstrates our confidence in the fundamental strength of Solectron’s business model and our commitment to enhancing shareholder value,” said Mike Cannon, Solectron’s president and chief executive officer. “Our improved operating performance and strong working capital metrics have provided us with sufficient resources to fund our growth initiatives, meet future debt obligations and repurchase our stock.”

As of the third quarter ended May 31, 2005, the company had approximately 972 million shares of common stock outstanding, and a cash balance of $1.6 billion.

Safe Harbor
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended regarding our planned stock repurchase program, and our ability to continue to improve our working capital metrics, fund growth initiatives and meet future debt obligations. These forward-

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[SOLECTRON LETTERHEAD]

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looking statements involve a number of risks and uncertainties, and are based on current expectations, forecasts and assumptions.

Actual outcomes and results could differ materially. These risks and uncertainties include: our ability to continue to win and satisfy customers; reliance on major customers; the present and future strength of the worldwide economy overall, and in the telecommunications and other electronics technology sectors in particular; our ability to continue to improve our operating metrics; the accuracy of our projections of cash flows and capital requirements; incurring more restructuring-related charges than currently anticipated; our ability to complete our restructuring plan within the stated timeframe; the risk of price fluctuation; fluctuations in operating results; changes in technology; competition; variations in demand forecasts and orders that may give rise to operational challenges such as excess plant, equipment and materials; risks associated with international sales and operations; our ability to properly manage acquisitions; any unidentified weaknesses or deficiencies in our internal controls over financial reporting; interest rate risk; existing and new environmental regulations; market and segment risk; our ability to retain key personnel; and the impact of our outstanding litigation and other contingent liabilities.

For a further list and description of risks and uncertainties, see the reports filed by Solectron with the Securities and Exchange Commission, specifically Forms 8-K, 10-K/A, 10-Q, S-3 and S-4. Solectron disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Solectron
Solectron (www.solectron.com) provides a full range of worldwide manufacturing and integrated supply chain services to the world’s premier high-tech companies. Solectron’s offerings include new product design and introduction services, materials management, product manufacturing, and product warranty and end-of-life support. The company is based in Milpitas, Calif., and had sales from continuing operations of $11.64 billion in fiscal 2004.

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Analyst Contact:
Perry G. Hayes, Solectron Corporation, +1 (408) 956 7543 (U.S.), perryhayes@solectron.com

Media Contact:
Monika Raj, Solectron Corporation, +1 (408) 956 6529 (U.S.), monikaraj@solectron.com