Analysis: winners of iPhone 14 front camera’s upgrade to AF (auto focus)

2 min readJun 13, 2022

iPhone 14’s front camera will upgrade to AF (vs. the existing FF), significantly improving the selfie and video performance.
The critical hardware upgrades include adding a VCM and upgrading to a 6P lens (vs. the existing 5P).
Winners for the iPhone 14’s front camera upgrade to AF are Genius and Cowell.
- Genius is the main supplier for the 6P lens, and the ASP is about 20% higher than 5P.
- The CCM maker Cowell, under Luxshare ICT group, can benefit from the vertical integration of CCM and VCM, given Luxshare ICT is the new VCM supplier for the front camera.
It is worth noting that Genius’s iPhone 14 total lens supply proportion will be higher than that of Largan, which is the first time that Genius’s new iPhone lens’s order allocation surpasses Largan.
Cowell has more growth upside vs. peers in coming years thanks to iPhone’s rear-camera orders.
Luxshare ICT is a new VCM supplier, but the VCM contribution to its sales/EPS should be limited given its enormous business scale.
iPhone 14 front AF camera supply chain:
- CIS: Sony
- Lens: Genius and Largan
- VCM: Alps and Luxshare ICT
- CCM: LG Innotek and Cowell

分析：iPhone 14前置攝像頭升級為AF (自動對焦) 的贏家

iPhone 14的前置相機將升級為AF (既有是固定焦距)，自拍和影像性能顯著提升。
關鍵的硬件升級包括增加 VCM 和升級到6P鏡頭（既有是5P）。
iPhone 14的前置相機升級為AF的贏家是玉晶光和高偉電子。
- 玉晶光是前置AF相機的6P鏡頭主要供應商，ASP比既有的5P高約 20%。
- 立訊精密集團旗下的CCM供應商高偉電子可以受益於CCM 和VCM的垂直整合 (因為立訊精密是前置攝像頭的新VCM供應商)。
值得注意的是，玉晶光在iPhone 14總鏡頭供應比例高於大立光，這是玉晶光新iPhone鏡頭訂單比重首次超過大立光。
受益於iPhone的後置攝像頭訂單，高偉電子在未來幾年比同業有更多的增長空間。
立訊精密是新的VCM供應商，但鑑於其龐大的業務規模，VCM對其銷售額/EPS的貢獻應該有限。
iPhone 14前AF相機供應鏈：
- CIS：Sony
- 鏡頭：玉晶光和大立光
- VCM：Alps和立訊精密
- CCM：LG Innotek和高偉電子