Report: iPhone 16 Pro rumored to include 120mm Tetraprism telephoto camera

The iPhone 16 Pro is expected to feature Apple’s tetraprism 120 mm camera, according to Apple analyst Ming-Chi Kuo. This is anticipated to drive demand for the technology in 2024. Kuo highlights that the market’s estimate of Largan’s EPS for 2023/4Q23 is significantly lower than what he emphasizes in his report.

Improved yield of the tetraprism lens assembly and higher-than-expected shipments of high-end Android phones are expected to contribute to the anticipated increase in EPS for 2023. Largan is the exclusive supplier of the tetraprism camera lens for the iPhone 15 Pro Max. Despite a low production yield in 3Q23, Kuo’s latest survey indicates that Largan has improved the yield to 70% or more, making the tetraprism lens assembly profitable and boosting EPS in 4Q23.

Looking ahead to 2024, Kuo predicts that Apple will incorporate the new camera in its smaller pro models, resulting in a 160% YoY growth in iPhones with the technology. He also highlights Apple and HUAWEI as the two fastest-growing brands in global periscope camera smartphone shipments for 2024. Largan is projected to be the primary supplier of periscope lenses for Apple and HUAWEI, with supply shares of 85-90% and 50-60% respectively. With improved yields contributing to profits, and a significant increase in periscope orders for 2024, the profitability is expected to surpass market consensus.

Kuo also mentions that the upcoming Huawei P70 series is expected to see a 100% YoY shipment growth in 2024 compared to the P60 series in 2023.