Foxconn Electronics (Hon Hai Precision Industry) has reported consolidated revenues of NT$280.02 billion (US$8.89 billion) for February, slipping 29.28% on month but growing 7.44% on year, and NT$676.03 billion for January-February, rising 17.53% on year.

Foxconn pointed out that the on-month decline was due to seasonal factors and fewer working days caused by the Lunar New Year holidays. Among Foxconn's three major businesses - the information, communication and consumer electronics - the consumer electronics business had the least drop in February.

Some market watchers expect Foxconn's March revenues to grow from February and revenues in the second quarter to stay flat sequentially because of seasonality.