(MENAFN) Taiwan's tech giant Hon Hai Precision Industry, a major supplier to Apple, saw its profit rise 22.34 percent in 2014 due to demand for larger-screen iPhones, Oman Observer reported.
The profit for Hon Hai, also known as Foxconn, reflects Apple's booming iPhone sales, which saw the US firm's quarterly profit rocket to a record USD18 billion at the end of last year.
Hon Hai is the world's largest computer components manufacturer and assembles products for Apple, including the iPhone series, as well as Sony and Nokia. Nearly half of its revenue is generated by orders from Apple.
"Its profit was better than expected. Its capability to handle the huge influx of orders from Apple in such a short time enabled it to enjoy a higher margin," Yuanta Investment Consulting said.
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