LG Innotek: Apple orders surged in the fourth quarter, benefiting from the iPhone 14 series

CTOnews.com, September 8 (Xinhua)-- Apple iPhone orders are expected to reach an all-time high in the fourth quarter of 22, and order inflows will surge, LG Innotek said.

Analysts point out that optical solutions will benefit from a surge in orders for iPhone 14 in the fourth quarter of 22 (3040 per cent in a single quarter), as the share of Pro / Max is expected to reach a record 85 per cent (21Q4 65 per cent) in the fourth quarter of 22.

LG Innotek supplies parts to the Pro series, the flagship product of the iPhone 14 series, which is expected to account for 58 per cent of iPhone's first shipments (up 15 per cent year-on-year).

Analysts believe that the reasons for the increase in the share of high-end models include:

(1) during the period 2022-2023, iPhone lacked global competitors

(2) iPhone sales are strong despite the global recession and inflationary pressures.

CTOnews.com learned that LG Innotek 2H22 predicts that OP is 1 trillion won (25% year-on-year growth):

(1) the share of Pro series binding orders is growing.

(2) the upgrade of camera pixels promotes the growth of ASP.

(3) A new front-facing camera is adopted.

LG Innotek estimates revenue from 2H22 optical solutions (iphone accounts for 80 per cent of revenue) at 8.6 trillion won (+ 46 per cent HoH,+12% YoY), or 59 per cent of the division's annual revenue of 418.5 billion won (+ 45 per cent qq,+25% YoY) for 3Q22 OP and 540.3 billion won (+ 29 per cent qq,+26% YoY) for 4Q22 OP.