Demand for dual camera systems designed for contemporary smartphones will provide a massive boost for Samsung Electro-Mechanics and LG Innotek, two South Korean manufacturers of optical solutions, local reports indicate. LG Innotek’s Q1 2017 sales doubled compared to Q1 2016, primarily thanks to its supply deals with Huawei and Apple, both of whom are now implementing dual-lens cameras into their handsets. The Seoul-based imaging equipment manufacturer is expected to generate approximately $180 million in revenue solely from dual-sensor modules that it reportedly agreed to supply to Apple that’s looking to integrate a robust facial recognition solution into the upcoming iPhone 8 powered by LG Innotek’s sensors. That deal will significantly increase the company’s quarterly sales that amounted to around $827 million during the first quarter of 2017, with industry analysts predicting that the LG Corporation-owned firm will have a record-breaking final quarter of the year once Apple starts mass-producing this year’s iPhone lineup.
Samsung Electro-Mechanics recently scored supply deals with a number of Chinese original equipment manufacturers (OEMs) including Xiaomi, OPPO, and Vivo, all of whom have started implementing dual camera setups into their smartphones. This turn of events led the company to bounce back from its recent losses that were incurred due to the discontinuation of the Galaxy Note 7 that Samsung Electronics scrapped in late 2016 because of faulty batteries that proved to be volatile. However, with the recent release of the Galaxy S8 and Galaxy S8 Plus — both of which are said to be performing extremely well, having already sold more than five million units worldwide — and the upcoming launch of the Galaxy Note 8, the Samsung Group-owned parts manufacturer is expected to post significant profits over the next several quarters.
Many industry watchers believe that the Galaxy Note 8 will become the first Samsung-made device with a dual camera setup and turn into a massive commercial hit, and as Samsung Electro-Mechanics will be supplying its parts just like it’s supplying imaging components for the Galaxy S8 and Galaxy S8 Plus, the Korean manufacturer of optical solutions is projected to have a successful year ahead of it. According to recent estimates, sales of dual camera phones will grow to 300 million units by the end of this year and that trend is said to continue in the future.