Ming-Chi Kuo Predicts iPhone 17 to Feature 24MP Selfie Camera
iPhone 17 to get 24MP front-facing camera - Ming-Chi Kuo
iPhone 15 Pro Max
Camera lens-maker Genius Electronic Optical will benefit from Apple iPhone upgrades over the next 1–2 years, according to TF International Securities analyst Ming-Chi Kuo. These upgrades include a significant upgrade to the iPhone 17’s front camera lens, the iPhone 16 Pro series tetraprism lens, the high-unit price pancake for Vision Pro, and the ultra-wide lens for the iPhone 16 Pro series.
Ming-Chi Kuo reports that the front camera of the iPhone 17 will be upgraded to a 24MP/6P lens, compared to the 12MP/5P lens of the iPhone 15 & 16. This upgrade is expected to significantly improve image quality. Genius, being the primary lens supplier for iPhone front cameras, will see a substantial increase in revenue and profit in 2H25 due to this change, as the unit price of the 6P lens is 100–120% higher than that of the 5P.
Furthermore, Genius’ progress on the iPhone 16 Pro’s periscope lens is on track. The lens is expected to start shipping by the end of 2Q24 or early 3Q24. Despite a 10–15% price reduction of the periscope lens and Largan remaining the main supplier, the high unit price of the iPhone 16 Pro periscope lens will still significantly contribute to Genius’ revenue and profit in 2H24. The replacement demand for the two iPhone 16 Pro models, benefiting from the larger screen, is expected to increase shipments by 5–10% compared to the iPhone 15 Pro series.
Additionally, Genius started mass shipments of high-unit-price pancakes for Vision Pro by the end of 2023. This new product is estimated to contribute approximately NT$1 billion to Genius’ revenue in 2024, significantly more than most vendors.
Lastly, the ultra-wide lens for the iPhone 16 Pro series will continue to see growth in profit. The iPhone 16 Pro series will upgrade its ultra-wide camera to 48MP/0.7um/(1/2.6") from the previous 12MP/1.0um/(1/3.6") of the iPhone 15 Pro. The expected output specification is 12MP, which will improve image quality. Although the iPhone 16 Pro ultra-wide camera maintains the 6P lens design, limiting the lens unit price increase, the continued improvement in production yield will increase the profit of Genius’s ultra-wide lens.