華為新款P70將持續帶動2024高階手機相機規格升級，大立光與舜宇為關鍵受益者 / Huawei’s new P70 series will continue to drive the camera upgrade cycle for high-end smartphones in 2024, with Largan and Sunny Optical emerging as key beneficiaries
2 min readNov 28, 2023
- 華為預計在1H24推出新款旗艦機型P70系列，包括P70、P70 Pro與Pro Art。大立光與舜宇光學為P70系列的高階鏡頭供應商 (前者供貨比重略高)，可望在淡季顯著受益於P70系列出貨量顯著成長。
- 受益於相機規格升級與改採自行研發的麒麟晶片，P70系列出貨量將在2024有顯著成長 (vs. 2023年P60系列的400–500萬台)。若當前強勁的手機庫存回補需求可持續到1H24，則P70系列出貨量在2024年可望強勁成長約230% YoY至1,300–1,500萬部。即便庫存回補需求在1H24放緩，P70系列出貨量仍可望顯著成長150% YoY至1,000–1,200萬部。
- P70系列的相機規格最大賣點在於：1) 採用長焦潛望鏡，P70為5P鏡頭 (1/3.6吋)，P70 Pro與P70 Art均為6P鏡頭 (1/2.5吋)、2) P70 Art廣角相機採用高規1/1吋CIS與1G6P玻塑混合鏡頭，1G6P鏡頭因採用模造玻璃故單價約為7P的4–5倍。值得注意的是，因模造玻璃為大立光與舜宇光學自製，故對利潤有利。
- 正如先前預期，華為重返高階手機市場，會因採用較高相機規格與出貨量大幅成長而顯著推動高階手機光學升級週期。
- Huawei is expected to launch new flagship models of the P70 series in 1H24, including the P70, P70 Pro and Pro Art. Largan and Sunny Optical, as suppliers of high-end lenses for the P70 series (with the former having a slightly higher supply share), are poised to benefit significantly from the significant shipment growth of the P70 series during the traditional off-season.
- The P70 series is expected to see significant shipment growth in 2024 (vs. 4–5 million units of the P60 series in 2023) thanks to upgraded camera specifications and the introduction of Huawei’s own Kirin chips. If the current restocking solid demand for smartphones continues into 1H24, the P70 series could see robust YoY growth of around 230% to 13–15 million units. Even if the restocking demand slows down in 1H24, P70 series shipments are still expected to grow significantly by 150% YoY to 10–12 million units.
- The key selling points of the P70 series camera specifications are: 1) Adopting a telephoto periscope lens. The P70 uses a 5P lens (1/3.6-inch), and the P70 Pro and P70 Art use a 6P lens (1/2.5-inch), and 2) the wide camera of the P70 Art uses a high-end 1/1-inch CIS with a hybrid 1G6P lens, with the 1G6P lens commanding a price about 4–5 times that of a 7P lens due to the adoption of molded glass. It is worth mentioning that since Largan and Sunny Optical make the molding glass, it benefits profits.
- As previously expected, Huawei’s return to the high-end smartphone market, with higher camera specifications and substantial shipment growth, will significantly drive the optical upgrade cycle in high-end smartphones.
