According to a new Ming-Chi Kuo supply chain report, Sunny Optical is the largest supplier of wide-camera 7P lenses for iPhone 14 series, and its supply ratio significantly exceeds Largan and Genius.
Kuo’s latest market survey revealed:
- The shipment allocation of Sunny Optical’s high-end wide 7P lens (used in two high-end iPhone 14 Pro) and lower-end wide 7P lens (used in two lower-end iPhone 14) was 50–60% and 55- 65%, respectively. The proportion of the supply of Largan and Genius is about the same.
- Sunny Optical’s capacity has increased significantly, so the company will continue the price war to obtain more Apple orders and raise utilization.
- Among iPhone lenses, the wide lens is the largest contributor to profit. Hence, the critical impact of Sunny Optical’s significant market share gain of the wide lens on Largan and Genius is profit, not revenue.
- Largan’s wide 7P lens ASP is 15–25% higher than that of Sunny Optical and Genius. Therefore, Sunny Optical’s market share gain has a lower negative impact on Largan’s profit.
- Sunny Optical may become the main supplier of the ToF lens for iPhone 15 in 2023. Genius is the main supplier of the existing ToF lenses, so that it will be more negatively affected than Largan.