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Foxconn owner’s revenue up 26% in February thanks to iPad 2, Kinect

Strong demand in the U.S. means strong revenue in Taiwan, and Hon Hai Precision Industry Co., Ltd., parent company of notorious manufacturer Foxconn, saw revenue continue to climb in February. Hon Hai pulled in NT$152.9 billion (almost $5.2 billion) in the shortest month of the year, Taiwan Economic News reports, up 25.9% over the same month in 2010. Over the first two months of 2011, Hon Hai’s revenues sit at NT$339.1 billion ($11.5 billion), a 31.5% increase over January and February 2010. Growth has slowed, however, as outlined in an earlier report. The company is continuing to increase revenues despite skyrocketing labor and material costs, however, and the growth is attributed to high demand for popular gadgets like Apple’s iPad 2 — which is currently sold out across the country — as well as the original iPad and Microsoft’s motion-based Xbox 360 controller, the Kinect. Sales of the Microsoft Kinect sensor recently passed the 10 million mark, making it the fastest-selling consumer electronics device of all time.

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Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.