Dual camera phone sales will reach 300 million units over the course of this year, up by over 400 percent in comparison to 2016. According to The Korea Herald, both LG Innotek and Samsung Electro-mechanics are already experiencing improved profits thanks to the increasing global demand for smartphones featuring dual camera systems. LG Innotek is currently the only supplier providing Apple with cameras for the company's iPhone lineup, which played an important part in the company's record-breaking final quarter of 2016 during which the LG Corporation-owned company posted $103 million in operating profit. The components manufacturer is expected to continue its great financial performance during the first quarter of this year as it will also supply the dual camera setup that's going to be featured in the upcoming LG G6.
The company's domestic rival Samsung Electro-mechanics just finished a rough financial quarter during which it posted an operating loss due to the discontinuation of the Galaxy Note 7. However, the Samsung Group-owned component company is now expected to turn things around due to the fact that many of its Chinese clients are looking to integrate its dual camera systems into their upcoming offerings, industry analysts believe. Samsung Electro-mechanics is reportedly in negotiations with the likes of OPPO, Huawei, and Vivo, all of which are interested in its components. Meanwhile, the company has already been supplying LeEco and Xiaomi with dual camera solutions since the third quarter of 2016. This demand will reportedly increase Samsung Electro-mechanics' sales in China to over $560 million, up by 108 percent in comparison to 2016, analysts believe. On the global scale, the company's camera sales are expected to exceed $2 billion over the course of this year, which is a 16.9-percent increase compared to the previous period.
Original equipment manufacturers (OEMs) are likely attracted to dual camera systems due to the fact that such solutions allow them to improve on the image-shooting capabilities of their previous devices without shipping phones with exceedingly large camera bumps. These latest predictions seemingly corroborate recent rumors that an increasing number of OEMs will opt to equip some of their 2017 smartphones with dual camera setups. The upcoming LG V30 is even rumored to sport two such systems.