Ming-Chi Kuo reiterated in a tweet this afternoon that the highest-end new iPhone 15 (15 Pro Max or 15 Ultra) in 2H23 will be equipped with a periscope [new power zoom]. For 2024, the market expects that the periscope camera will be adopted in more iPhone models.  

However, Kuo's latest research "indicates that only the highest-end model of the iPhone 16 in 2H24 will be equipped with a periscope camera, which is lower than the two expected by the market. Therefore, the contribution of the periscope camera to the demand for lens upgrades may be lower than the market consensus.

This will be detrimental to lens suppliers Largan and Genius since the demand for lens upgrades will fall below expectations."

Whether one could definitively nail down what Apple is going to deliver as far out as Q3 2024 should be taken with a grain of salt at present. Such a development could open the door for the next-gen Google Pixel of Samsung Galaxy S24 aimed for 2024.

It's already rumored that the Galaxy S24 Ultra will have an updated telephoto/zoom camera. Samsung and Google already have superior zoom capabilities over the iPhone and so it's hard to see Apple cutting back on this feature in 2024.

Samsung could be upgrading their telephoto lens as early as tomorrow when they release their next gen Galaxy S23 smartphone. Though the Android community is of the belief that the big shift in camera capabilities is earmarked for the 2024 Galaxy S24.