Analyst Ming-Chi Kuo predicts that the iPhone 15 Pro Max will continue to be the best-selling iPhone model in the first half of 2024, accounting for 40–45% of all iPhone 15 shipments. The model's unique features, including a 5x Telephoto zoom or "tetraprism" lens, are expected to boost revenue for Taiwanese camera lens supplier Largan. Kuo also anticipates the expansion of the tetraprism lens to the iPhone 16 Pro and iPhone 16 Pro Max later this year, with the iPhone 16 Pro featuring a larger 6.3-inch display. Additionally, Apple is reportedly adding LG Innotek as a supplier for the folded zoom module used in the technology.
Analyst Ming-Chi Kuo predicts that the iPhone 15 Pro Max will account for 40-45% of iPhone 15 shipments in the first half of 2024, boosting revenues for supplier Largan due to increased tetraprism lens orders. The popularity of the 6.7-inch model is attributed to exclusive upgrades, with expectations for similar success with the upcoming iPhone 16 Pro and iPhone 16 Pro Max. Despite similarities, the iPhone 15 Pro lags in popularity, likely due to the larger model's advantages.
Apple analyst Ming-chi Kuo predicts that the iPhone 16 Pro will feature a periscope lens, thanks to improved manufacturing yields by Largan, the supplier of the tetraprism lens assembly. Kuo previously suggested this in March and reiterated it recently, stating that both the Pro Max and smaller Pro models will have the periscope lens in 2024. Largan's improved yield rates of 70% or more will make the lens assembly profitable and contribute to Apple's growth in iPhones with this camera in 2024. However, while Kuo's track record is generally accurate, some of his recent predictions have been speculative, so further corroboration is needed.
Ming-Chi Kuo, a reliable analyst, predicts that the periscope lens will be the standout feature of the iPhone 15 Pro Max, offering a significant improvement in optical zoom capabilities. The lens, folded inside the phone's body, directs light to the image sensor through prisms, extending the focal length. The iPhone 15 Pro Max is expected to have a 6x optical zoom, compared to the current 3x on the iPhone 14 Pro Max. Kuo also forecasts a 70% increase in shipments of iPhone periscope lenses in the second half of 2024. Largan, the sole supplier of the periscope lens, is expected to benefit from this trend.
Apple will reportedly pay just under $4 per periscope camera module to Largan, one of its camera lens suppliers, for the upcoming iPhone 15 Pro and iPhone 15 Pro Max/Ultra. This is lower than the industry average of $4.50-$5 per module and may negatively impact Largan's profit margins. However, Apple may pay even less next year as Genius joins the supply chain. Other rumored upgrades for the premium iPhones include a Dynamic Island display punch-hole, full titanium build, and capacitive force-feedback keys.
Apple is reportedly paying supplier Largan just $4 for the iPhone 15 Pro Max periscope lens, which allows for greater optical zoom. This price leaves Largan with little profit margin. The periscope lens is expected to be exclusive to the iPhone 15 Pro Max, and there are conflicting reports about whether it will be included in the smaller iPhone 16 Pro next year. Apple has a history of splitting orders between Largan and Genius to achieve competitive pricing.
The periscope camera lens exclusive to the iPhone 15 Pro Max will be supplied solely by Largan, according to Apple industry analyst Ming-Chi Kuo. The periscope lens allows for a longer "folded" telephoto setup inside phones, enabling users to zoom in further without any blurriness. Kuo believes both iPhone 16 Pro models in 2024 will use the same or similar periscope lens as the one used in the iPhone 15 Pro Max. However, the average selling price for Largan's shipped periscope camera lenses is around $4, which is notably lower than the market consensus of $4.50 to $5 or higher, meaning Largan cannot profit from the periscope camera lens.
Apple is reportedly increasing the price of its iPhone 15 Pro and iPhone 15 Pro Max, with the larger model exclusively featuring a periscope zoom camera. However, the periscope camera lens supplier, Largan, is said to miss out on this opportunity as it will only make $4 per unit. Analyst Ming-Chi Kuo suggests that Largan may not even be included in Apple's supply chain for the iPhone 16. This may lead to a reduction in prices for periscope camera lenses, sacrificing margins for suppliers.
