Shulou(Shulou.com)11/24 Report--

CTOnews.com March 30, Apple analyst Guo Mingyi today released a forecast that the iPhone 15 Pro Max will have an exclusive periscope telephoto lens design, which will be exclusively supplied by Dali Optoelectronics.

In a report released today, Guo Mingyi pointed out two points: high inventory will lead to lower-than-expected second-quarter results for suppliers of Apple's iPhone 14 Pro series, and that suppliers will not be able to profit from the 15-Pro Max periscope.

The zero component / shot inventory risk I expected for iPhone 14 Pro / Pro Max is under way. Take the income of Dali Liguang's February camp as an example, due to the large number of working days, the revenue declined by 21% MoM. I think this is a warning worthy of attention.

Apple's lens orders are very weak at 2Q23 and are expected to decline 35-40 per cent of QoQ, higher than 30-35 per cent of assemblies and some components. Compared with 2Q22, there is also a significant decline of 30-40% YoY.

Da Liguang is the exclusive lens supplier of iPhone 15 Pro Max periscope cameras this year. The market has overestimated periscope doubts about the revenue and profits of Yujingguang 2H23-1H24.

The unit price of the periscope camera lens shipped by Dali is about USD 4 (including periscope), which is significantly lower than the market consensus of 4.5-5 or more. It is worth noting that the price of the USD 4 means that Liguang cannot profit from the periscope camera lens.

Yujingguang is expected to supply periscope lenses from iPhone 16, when the price of the component will be even lower, which will be detrimental to lens suppliers.

He said the average price of a large-standing periscope, including a prism, was about $4 (CTOnews.com Note: currently about 28 yuan), significantly lower than what is widely believed to be $4.50 to $5 or more. "$4 means Largan cannot profit from periscope lenses."

Looking ahead, he believes that both iPhone 16 Pro models in 2024 will use the same or similar periscope lenses as the iPhone 15 Pro Max, and Apple will continue the differentiation between the standard and Pro models by retaining some of the higher-end hardware differences.

He predicts that Yujingguang, an Apple supplier, will start supplying periscope lenses for the iPhone 16 Pro, and that the prices of such components will become lower, adversely affecting suppliers.

According to previous revelations, Apple will use periscope lens technology on the larger iPhone 15 Pro Max this year, possibly because of hardware space constraints. Keeping the periscope lens exclusive to the iPhone 16 Pro Max will break Apple's tradition that new features are usually introduced exclusively as an iPhone and then extended to other iPhone models when the next generation of devices are released.

Currently, Apple competitors such as Samsung have used periscope lens technology, while the iPhone 15 Pro Max may support 6x optical zoom, which is higher than the current 3x optical zoom of the iPhone 14 Pro model.

Related readings:

"sources say that Apple's iPhone 15 Pro Max lenses will be supplied by LG Innotek and Jiahua Electronics."

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