Zhitong Financial APP learned that on February 1, Guo Mingyi, a well-known Apple Inc analyst at Tianfeng International, said that Apple Inc's new iPhone 16 series in the second half of 2024 may only be one model (the most high-end model) equipped with periscope lenses, which is lower than the two models expected by the market, and the demand for lens upgrade is lower than market expectations, which is disadvantageous to Da Liguang and Yujingguang. As previously predicted, the most high-end iPhone 15 series models (iPhone 15 Pro Max or 15 Ultra) will be equipped with periscope lenses in the second half of this year. The market expects periscope lenses to be adopted with more iPhone models, which will be the key to the upgrade demand for boost lenses in 2023-2024. According to Group Intelligence, shipments of periscope lenses are expected to reach 356 million in 2025. Related targets: medium Optics (002189.SZ), Optoelectronic (002456.SZ), Joint Optoelectronics (300691.SZ), Crystal Optoelectronics (002273.SZ).
According to the latest information released by industry insiders, this year's new iPhone 15 series will use periscope telephoto lenses for the first time. The folding zoom will be provided by LG Innotek and Home Chemical Electronics, which are expected to account for 70% and 30% of the supply, respectively. The periscope telephoto lens is another revolutionary upgrade after last year's 48 million-pixel camera upgrade, but it will still not be standard, but will only be available in two Pro versions. The standard versions of iPhone 15 and Plus will not only miss the upgrade, but will not even qualify for 48 million pixels.
At present, smartphones with periscope lenses are all flagship models. It is believed that with the gradual decline in the cost of periscope lenses, middle and low-end models are also expected to be equipped with lower specifications of periscope lenses in the future.Shipments of periscope lenses are expected to explode this year and next.
As the supply chain of periscope lenses becomes more mature, the cost of parts and components will fall further, driving periscope lenses to sink to mid-and low-end smartphones.In 2020, global shipments of smartphones with periscope lenses will reach 83 million, with a growth rate of 400%. It is expected that there is a chance to exceed 400 million in 2023.
It is understood that the design principle of the periscope camera is to arrange the telephoto lens horizontally, form a vertical layout with the wide-angle lens, and use prism refraction to achieve imaging. Through the periscope design, we can not only ensure the thin appearance of the phone, but also greatly increase the focal length of the camera and better realize the optical zoom. When using a periscope lens, light is reflected through a tilted mirror to the image sensor in the camera. The direction offset allows the telephoto lens system to be "folded" to improve the ability of optical zoom without blurring like digital zoom.
In addition to Apple Inc, the Android camp has also installed periscope cameras one after another. OPPO said that the upcoming mid-and high-end phones will be equipped with periscope telephoto. It is reported that OPPO's model PHU110 high-end series of new phones are currently testing periscope telephoto lenses, OPPO hopes to popularize periscope to the mid-range price model. The OPPO Find X6 series will place a large circular rear multi-camera module above the center axis on the back of the fuselage, with three cameras and including periscope telephoto canceled by the Find X3 series and the Find X5 series.
In addition, XIAOMI 13 Ultra will upgrade the new telephoto lens. Compared with XIAOMI 13 standard version and XIAOMI 13 Pro,Ultra version, XIAOMI 13 uses periscope telephoto lens, which supports up to 120x zoom.
Related concept stocks:
002189.SZ: the periscope prism and microprism products produced by the company can be used in the field of mobile phone and micro-investment.
002456.SZ: the company's high-end lens accelerated penetration, and the team broke through the technical barrier of high-end lens after years of technical precipitation; 100-megapixel 7p optical lens and periscope 3X telephoto lens started small batch production; and multi-performance products such as telephoto lens, macro lens and ultra-wide-angle lens have all entered the supply chain of domestic mainstream mobile phone manufacturers.
Joint Optoelectronics (300691.SZ): as an early optical company engaged in periscope lenses in the industry, the company has been developing the market application of related products.
Crystal Optoelectronics (002273.SZ): the company's products are optical zero components, and prisms for periscope lenses have been mass-produced.