Despite previous expectations that Apple will soon launch a new iPhone SE, or possible “iPhone SE Plus,” in early 2021, analyst Ming-Chi Kuo says the earliest this will happen is the second half of the year.
While Best Buy recently produced a screen protector for an “iPhone SE Plus,” and while Ming-Chi Kuo has previously expected both that and a new iPhone SE, the analyst now says neither are coming soon. Although he does not specify a new date or time frame, Kuo has told investors that it won’t happen in the first half of 2021.
Kuo’s latest investor note is specifically about supplier Yujingguang, better known as Genius Electronic Optical. He cautions that a belief that “the market overestimates revenue and gross margin” of the company.
“We believe that Genius Electronic Optical’s October revenue [will turn out to be] lower than the market consensus because of increased competition,” he continues. “We expect this competition to intensify in 2021.”
“The market expects that [the first half of 2021] will see a new iPhone SE [which would] push up the shipment momentum of Genius Electronic Optical,” says Kuo. “But we don’t think that 1H21 will have a new iPhone SE.”
Kuo also believes that Genius Electronic Optical is not going to get as many component orders for the “iPhone 13” as it did the iPhone 12. “We estimate that [its] ultra wide-angle lens will drop from 50% of the iPhone 12 series to 30% of the iPhone 13 series,” he concludes.