According to NASDAQ, Hon Hai Precision Industry Co., the world's largest manufacturer of electronics said its 2014 net profit rose 22% from a year earlier, thanks to strong sales of larger-screen Apple Inc. iPhones.

The company said its 2014 net profit rose to 130.5 billion new Taiwan dollars ($4.17 billion) from about 106.7 billion new Taiwan dollars a year earlier. Revenue rose 6.5% to 4.21 trillion new Taiwan dollars.

Hon Hai's earnings were underpinned by demand from Apple, which sold 74.5 million iPhones in its fiscal first quarter, up 46% from a year earlier.

Nearly half of Hon Hai's revenue comes from Apple. The Taiwan-based manufacturer has been seeking new sources of growth as competition for Apple's orders has intensified and wages in China increase.

According to a news report from Taiwan report on this same, they added that "Foxconn Technology, the metal casing unit of Hon Hai, has been one of the beneficiaries of the newest iPhone sales."

About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. Comments are reviewed daily from 4am to 7pm PST and sporadically over the weekend.