----

----

----

----

| California                                                     | 95-4249240                           |
|----------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

| 28040 West Harrison Parkway, Valencia, California                            | 91355-4162 |
|------------------------------------------------------------------------------|------------|
|       (Address of principal executive offices) | (Zip Code) |

|   | Large accelerated filer o                                                        | Accelerated filer o         |
|--------|---------------------------------------------------------------------------------------|----------------------------------|
|   |                                                                                  |                             |
|   | Non-accelerated filer o  (Do not check if a smaller reporting company) | Smaller reporting company x |

|   | Class                               |   | Outstanding on April 2, 2011 |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|--------|
|   | Class A common stock, $0.001 par valueClass B common stock, $0.001 par value                                                                                                              |   | 4,777,144762,612             |   |

----

Index

TAITRON 

|                           |                                                                                                                | Page   |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------|--------|
| PART I - FINANCIAL INFORMATION |                                                                                                                |
|                           |                                                                                                                |   |
| Item 1.                        | Financial Statements (unaudited)                                                                                    |   |
|                           | Condensed Consolidated Balance Sheets at March 31, 2011 and December 31, 2010                                       | 1      |
|                           | Condensed Consolidated Statements of Operations for the three months ended March 31, 2011 and 2010             | 2      |
|                           | Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2011 and 2010 | 3      |
|                           | Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2011 and 2010                  | 4      |
|                           | Notes to Condensed Consolidated Financial Statements                                                                | 5      |
| Item 2.                        | Management’s Discussion and Analysis of Financial Condition and Results of Operations                         | 8      |
| Item 3.                        | Quantitative and Qualitative Disclosures About Market Risk                                                          | 10     |
| Item 4.                        | Controls and Procedures                                                                                             | 10     |
|                           |                                                                                                                |   |
| PART II - OTHER INFORMATION    |                                                                                                                |
|                           |                                                                                                                |   |
| Item 1.                        | Legal proceedings                                                                                                   | 11     |
| Item 2.                        | Unregistered Sales of Equity Securities and Use of Proceeds                                                         | 11     |
| Item 3.                        | Defaults Upon Senior Securities                                                                                     | 11     |
| Item 4.                        | [Removed and Reserved]                                                                                              | 11     |
| Item 5.                        | Other Information                                                                                                   | 11     |
| Item 6.                        | Exhibits                                                                                                            | 11     |
|                           | Signatures                                                                                                          | 12     |

----

Index

Item 

TAITRON 

|                                                                                                                          |   |        |       |   |         |   |
|-------------------------------------------------------------------------------------------------------------------------------|--------|-------------|------------|--------|--------------|--------|
|                                                                                                                          |   | March 31,   |       |   | December 31, |   |
|                                                                                                                          |   | 2011        |       |   | 2010         |   |
|      Assets                                                                                          |   | (Unaudited) |       |   |         |   |
| Current assets:                                                                                                               |   |        |       |   |         |   |
| Cash and cash equivalents                                                                                                     |   | $           | 2,578,000  |   |         | $      | 3,095,000 |   |
| Restricted cash (Note 4)                                                                                                      |   |        | 200,000    |   |         |   | 200,000 |   |
| Trade accounts receivable, net of allowance for doubtful accounts of $96,000                                             |   |        | 838,000    |   |         |   | 827,000 |   |
| Inventory, net of reserve for obsolescence of $3,860,000, and $3,700,000, respectively                                        |   |        | 12,273,000 |   |         |   | 12,414,000 |   |
| Prepaid expenses and other current assets                                                                                     |   |        | 152,000    |   |         |   | 91,000 |   |
| Total current assets                                                                                                          |   |        | 16,041,000 |   |         |   | 16,627,000 |   |
| Property and equipment, net                                                                                                   |   |        | 4,935,000  |   |         |   | 4,977,000 |   |
| Other assets (Note 5)                                                                                                         |   |        | 438,000    |   |         |   | 263,000 |   |
| Total assets                                                                                                                  |   | $           | 21,414,000 |   |         | $      | 21,867,000 |   |
|                                                                                                                          |   |        |       |   |         |   |   |   |
| Liabilities and Shareholders’ Equity                                                                                    |   |        |       |   |         |   |   |   |
| Current liabilities:                                                                                                          |   |        |       |   |         |   |   |   |
| Trade accounts payable                                                                                                        |   | $           | 810,000    |   |         | $      | 871,000 |   |
| Accrued liabilities                                                                                                           |   |        | 257,000    |   |         |   | 351,000 |   |
| Current portion of long-term debt (Note 5)                                                                                    |   |        | -          |   |         |   | 1,500,000 |   |
| Total current liabilities                                                                                                     |   |        | 1,067,000  |   |         |   | 2,722,000 |   |
| Long-term debt (Note 6)                                                                                                       |   |        | 1,500,000  |   |         |   | - |   |
| Total liabilities                                                                                                             |   |        | 2,567,000  |   |         |   | 2,722,000 |   |
|                                                                                                                          |   |        |       |   |         |   |   |   |
| Commitments and contingencies (Notes 6, 8 and 9)                                                                              |   |        |       |   |         |   |   |   |
|                                                                                                                          |   |        |       |   |         |   |   |   |
| Shareholders’ equity:                                                                                                   |   |        |       |   |         |   |   |   |
| Preferred stock, $0.001 par value.  Authorized 5,000,000 shares;                                                    |   |        |       |   |         |   |   |   |
|     None issued or outstanding                                                                            |   |        | -          |   |         |   | - |   |
| Class A common stock, $0.001 par value.  Authorized 20,000,000 shares; 4,777,144 shares issued and outstanding |   |        | 5,000      |   |         |   | 5,000 |   |
| Class B common stock, $0.001 par value.  Authorized, issued and outstanding 762,612 shares                          |   |        | 1,000      |   |         |   | 1,000 |   |
| Additional paid-in capital                                                                                                    |   |        | 10,608,000 |   |         |   | 10,605,000 |   |
| Accumulated other comprehensive income                                                                                        |   |        | 98,000     |   |         |   | 87,000 |   |
| Retained earnings                                                                                                             |   |        | 7,939,000  |   |         |   | 8,244,000 |   |
| Minority interest in subsidiary                                                                                               |   |        | 196,000    |   |         |   | 203,000 |   |
| Total shareholders’ equity                                                                                              |   |        | 18,847,000 |   |         |   | 19,145,000 |   |
| Total liabilities and shareholders’ equity                                                                              |   | $           | 21,414,000 |   |         | $      | 21,867,000 |   |

----

Index

TAITRON 

|                                                                       |   |                         |      |   |        |   |
|----------------------------------------------------------------------------|--------|------------------------------|-----------|--------|-------------|--------|
|                                                                       |   | Three Months Ended March 31, |      |
|                                                                       |   | 2011                         |      |   | 2010        |   |
|                                                                       |   | (Unaudited)                  |      |   | (Unaudited) |   |
|                                                                       |   |                         |      |   |        |   |
| Net sales                                                                  |   | $                            | 1,558,000 |   |        | $      | 1,650,000 |   |
| Cost of goods sold                                                         |   |                         | 1,090,000 |   |        |   | 1,188,000 |   |
| Gross profit                                                               |   |                         | 468,000   |   |        |   | 462,000 |   |
|                                                                       |   |                         |      |   |        |   |   |   |
| Selling, general and administrative expenses                               |   |                         | 784,000   |   |        |   | 596,000 |   |
| Operating loss                                                             |   |                         | (316,000  | )      |        |   | (134,000 | ) |
|                                                                       |   |                         |      |   |        |   |   |   |
| Interest expense, net                                                      |   |                         | (26,000   | )      |        |   | (9,000 | ) |
| Other income, net                                                          |   |                         | 30,000    |   |        |   | 37,000 |   |
| Loss before income taxes                                                   |   |                         | (312,000  | )      |        |   | (106,000 | ) |
|                                                                       |   |                         |      |   |        |   |   |   |
| Income tax provision                                                       |   |                         | (1,000    | )      |        |   | (7,000 | ) |
|                                                                       |   |                         |      |   |        |   |   |   |
| Net loss                                                                   |   |                         | (313,000  | )      |        |   | (113,000 | ) |
| Net loss attributable to noncontrolling interest in subsidiary             |   |                         | 8,000     |   |        |   | 5,000 |   |
| Net loss attributable to the Company                                       |   | $                            | (305,000  | )      |        | $      | (108,000 | ) |
|                                                                       |   |                         |      |   |        |   |   |   |
|                                                                       |   |                         |      |   |        |   |   |   |
|                                                                       |   |                         |      |   |        |   |   |   |
| Net loss per share:  Basic & Diluted                         |   | $                            | (0.06     | )      |        | $      | (0.02 | ) |
|                                                                       |   |                         |      |   |        |   |   |   |
| Weighted average common shares outstanding:  Basic & Diluted |   |                         | 5,539,756 |   |        |   | 5,539,756 |   |

----

Index

TAITRON 

|                                                                     |   |                         |     |   |        |   |
|--------------------------------------------------------------------------|--------|------------------------------|----------|--------|-------------|--------|
|                                                                     |   | Three Months Ended March 31, |     |
|                                                                     |   | 2011                         |     |   | 2010        |   |
|                                                                     |   | (Unaudited)                  |     |   | (Unaudited) |   |
|                                                                     |   |                         |     |   |        |   |
| Net loss                                                                 |   | $                            | (313,000 | )      |        | $      | (113,000 | ) |
|                                                                     |   |                         |     |   |        |   |   |   |
| Other Comprehensive loss:                                                |   |                         |     |   |        |   |   |   |
| Foreign currency translation adjustment                                  |   |                         | 11,000   |   |        |   | 2,000 |   |
|                                                                     |   |                         |     |   |        |   |   |   |
| Comprehensive loss                                                       |   |                         | (302,000 | )      |        |   | (111,000 | ) |
|                                                                     |   |                         |     |   |        |   |   |   |
| Comprehensive loss attributable to noncontrolling interest in subsidiary |   |                         | 7,000    |   |        |   | 3,000 |   |
|                                                                     |   |                         |     |   |        |   |   |   |
| Comprehensive loss attributable to the Company                           |   | $                            | (295,000 | )      |        | $      | (108,000 | ) |

----

Index

TAITRON 

|                                                                            |   |                         |      |   |        |   |
|---------------------------------------------------------------------------------|--------|------------------------------|-----------|--------|-------------|--------|
|                                                                            |   | Three Months Ended March 31, |      |
|                                                                            |   | 2011                         |      |   | 2010        |   |
|                                                                            |   | (Unaudited)                  |      |   | (Unaudited) |   |
| Operating Activities:                                                           |   |                         |      |   |        |   |
| Net loss                                                                        |   | $                            | (313,000  | )      |        | $      | (113,000 | ) |
| Less net loss attributable to noncontrolling interest                           |   |                         | 8,000     |   |        |   | 5,000 |   |
| Net loss attributable to the Company                                            |   |                         | (305,000  | )      |        |   | (108,000 | ) |
| Adjustments to reconcile net loss to net cash provided by operating activities: |   |                         |      |   |        |
| Depreciation and amortization                                                   |   |                         | 51,000    |   |        |   | 57,000 |   |
| Provision for sales returns and doubtful accounts                               |   |                         | 6,000     |   |        |   | 2,000 |   |
| Stock based compensation                                                        |   |                         | 3,000     |   |        |   | 3,000 |   |
| Minority interest in subsidiary                                                 |   |                         | (7,000    | )      |        |   | 38,000 |   |
| Changes in assets and liabilities:                                              |   |                         |      |   |        |   |   |   |
| Trade accounts receivable                                                       |   |                         | (17,000   | )      |        |   | (324,000 | ) |
| Inventory                                                                       |   |                         | 141,000   |   |        |   | 243,000 |   |
| Prepaid expenses and other current assets                                       |   |                         | (61,000   | )      |        |   | 148,000 |   |
| Other assets                                                                    |   |                         | 21,000    |   |        |   | (8,000 | ) |
| Trade accounts payable                                                          |   |                         | (61,000   | )      |        |   | 91,000 |   |
| Accrued liabilities                                                             |   |                         | (94,000   | )      |        |   | (37,000 | ) |
| Total adjustments                                                               |   |                         | (18,000   | )      |        |   | 213,000 |   |
| Net cash (used in) provided by operating activities                             |   |                         | (323,000  | )      |        |   | 105,000 |   |
|                                                                            |   |                         |      |   |        |   |   |   |
| Investing Activities:                                                           |   |                         |      |   |        |   |   |   |
| Additions to property & equipment                                           |   |                         | (9,000    | )      |        |   | (18,000 | ) |
| Payments for investments in joint ventures                                      |   |                         | (196,000  | )      |        |   | - |   |
| Net cash used in investing activities                                           |   |                         | (205,000  | )      |        |   | (18,000 | ) |
|                                                                            |   |                         |      |   |        |   |   |   |
| Impact of exchange rates on cash                                                |   |                         | 11,000    |   |        |   | 2,000 |   |
|                                                                            |   |                         |      |   |        |   |   |   |
| Net increase (decrease) in cash and cash equivalents                            |   |                         | (517,000  | )      |        |   | 89,000 |   |
| Cash and cash equivalents, beginning of period                                  |   |                         | 3,095,000 |   |        |   | 2,768,000 |   |
| Cash and cash equivalents, end of period                                        |   | $                            | 2,578,000 |   |        | $      | 2,857,000 |   |
|                                                                            |   |                         |      |   |        |   |   |   |
| Supplemental disclosures of cash flow information:                              |   |                         |      |   |        |   |   |   |
| Cash paid for interest                                                          |   | $                            | 13,000    |   |        | $      | 9,000 |   |
| Cash paid for income taxes, net                                                 |   | $                            | 3,000     |   |        | $      | 7,000 |   |

----

Index

TAITRON 

----

Index

|                                             |   |        |    |   |         |   |
|--------------------------------------------------|--------|-------------|---------|--------|--------------|--------|
|                                             |   | March 31,   |    |   | December 31, |   |
|                                             |   | 2011        |    |   | 2010         |   |
|                                             |   | (Unaudited) |    |   |         |   |
|                                             |   |        |    |   |         |   |
| Investment in securities- Zowie Technology       |   | $           | 68,000  |   |         | $      | 68,000 |   |
| Investment in joint venture - Taiteam Technology |   |        | 147,000 |   |         |   | 147,000 |   |
| Investment in joint venture - Grand Shine Mgmt   |   |        | 196,000 |   |         |   | 0 |   |
| Other                                            |   |        | 27,000  |   |         |   | 48,000 |   |
|   Other Assets                         |   | $           | 438,000 |   |         | $      | 263,000 |   |

|                                    |   |        |      |   |         |   |
|-----------------------------------------|--------|-------------|-----------|--------|--------------|--------|
|                                    |   | March 31,   |      |   | December 31, |   |
|                                    |   | 2011        |      |   | 2010         |   |
|                                    |   | (Unaudited) |      |   | (Unaudited)  |   |
|                                    |   |        |      |   |         |   |
| Secured credit facility - related party |   |        | 1,500,000 |   |         |   | 1,500,000 |   |
| Less current portion                    |   |        | -         |   |         |   | (1,500,000 | ) |
| Long-term debt, less current portion    |   | $           | 1,500,000 |   |         | $      | - |   |

----

Index

|                             |   |             |    |   |                            |   |   |                                              |   |   |                      |   |
|----------------------------------|--------|------------------|---------|--------|---------------------------------|--------|--------|---------------------------------------------------|--------|--------|---------------------------|--------|
|                             |   | Number of Shares |    |   | Weighted Average Exercise Price |   |   | Weighted Average Years Remaining Contractual Term |   |   | Aggregate Intrinsic Value |   |
|                             |   |             |    |   |                            |   |   |                                              |   |   |                      |   |
| Outstanding at December 31, 2010 |   |             | 366,500 |   |                            | $      | 1.62   |                                              |   |   | 3.4                       |   |   | $ | 69,000 |   |
| Outstanding at March 31, 2011    |   |             | 366,500 |   |                            | $      | 1.62   |                                              |   |   | 3.2                       |   |   |   | 65,000 |   |
| Exercisable at March 31, 2011    |   |             | 345,832 |   |                            | $      | 1.69   |                                              |   |   | 2.8                       |   |   |   | 45,000 |   |

----

Index

Item 

----

Index

----

Index

Item 

Item 

----

Index

Item 

Item 

Item 

Item 

Item 

Item 

| ExhibitNumber |   | Description of Document                                                                                                                           |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                                                        |
| 31.1 *        |   | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                         |
| 31.2 *        |   | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                         |
| 32 *          |   | Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 USC. Section 1350). |
| *             |   | Filed herewith.                                                                                                                                             |

----

Index

SIGNATURES

----

Index