Pegtron Rides the iPhone Wave to Big Profits

Pegatron's annual net profit is up 53.4 percent year over year, and that's thanks to Apple's iPhone 6. The company builds iPhone for Apple, and that partnership has been paying off with profits hitting US$466.8 million.

Megatron's profits jump thanks to the iPhone's successMegatron's profits jump thanks to the iPhone's success

Smartphone manufacturing makes up the majority of Pegatron's profits right now, and CEO Jason Cheng said he's fine taking advantage of that, according to Reuters.

"It's definitely not a good thing to be too concentrated on just a few clients. But you can't avoid the fact that mobile phones have been fast sellers," he said. "When good business comes your way, how can you not take it?"

Fourth quarter profits for the company were up 68 percent, too. Smartphones and other communication devices made up nearly two thirds of the company's revenue, up from about a third in the previous year.

Apple's iPhone 6 and iPhone 6 Plus have been strong sellers since their launch last fall. The new models offer bigger displays than previous iPhone versions, which have proven to be popular with current customers as well as switchers from Google's Android platform.

For Pegatron, that popularity is paying off in the form of big jumps in its profits.

Despite the company's profit increase, revenue from its other manufacturing divisions dropped. Tablets, video game consoles, and other consumer electronics dropped 17 percent, while computer manufacturing dropped 38 percent.