Largan will be the sole lens supplier for the new periscope camera on the iPhone 15 Pro Max, according to a new report from TF International Securities analyst Ming-Chi Kuo.
In a recent post, Kuo notes that Largan's revenue declined by 21% MoM in February in part due to high inventory levels.
Apple's lens orders in 2Q23 are very weak and expected to decline by 35–40% QoQ, higher than the 30–35% decline for assembly and some components. Compared to 2Q22, this represents a significant 30–40% YoY decline.
Despite Largan landing lens orders for the periscope camera on the iPhone 15 Pro Max, Kuo believes Apple negotiated a price so low that the company cannot profit from it.
The ASP for Largan's shipped periscope camera lenses is around USD 4 (including the prisms), notably lower than the market consensus of USD 4.5–5 or higher. It is worth noting that the price of USD 4 means that Largan cannot profit from the periscope camera lens.
Additionally, Kuo says Genius will start supplying periscope lenses for the iPhone 16, which will likely drive the price even lower, negatively impacting lens suppliers.
Apple is expected to unveil its new iPhone 15 lineup in September. Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more updates.
In a recent post, Kuo notes that Largan's revenue declined by 21% MoM in February in part due to high inventory levels.
Apple's lens orders in 2Q23 are very weak and expected to decline by 35–40% QoQ, higher than the 30–35% decline for assembly and some components. Compared to 2Q22, this represents a significant 30–40% YoY decline.
Despite Largan landing lens orders for the periscope camera on the iPhone 15 Pro Max, Kuo believes Apple negotiated a price so low that the company cannot profit from it.
The ASP for Largan's shipped periscope camera lenses is around USD 4 (including the prisms), notably lower than the market consensus of USD 4.5–5 or higher. It is worth noting that the price of USD 4 means that Largan cannot profit from the periscope camera lens.
Additionally, Kuo says Genius will start supplying periscope lenses for the iPhone 16, which will likely drive the price even lower, negatively impacting lens suppliers.
Apple is expected to unveil its new iPhone 15 lineup in September. Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more updates.