iPhone sales saw a drop in the last quarter of 2018 which inevitably impacts on Apple's component suppliers. Taiwan-based Largan Precision is a major supplier of lens modules which are used in Apple's iPhones among other devices.

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According to a report in DigiTimes the company saw its fourth-quarter revenues and operating profits decrease by more than 20 percent but remains optimistic about the adoption of triple- and more lens camera modules on flagship smartphones. As a consequence Largan Precision is planning to expand its production capacity.

The good news for companies like Largan is that even with overall smartphone sales slowing down, thanks to the adoption of multi-lens cameras more cameras and lenses are required to fulfill demand. Back in June Largan CEO Adam Lin told reporters the following:

'Generally speaking, the smartphone industry may have started to slow, but the demand for more camera lenses does not stop there...the same smartphone shipment quantity would require more camera lenses than in the past.'

In addition to Apple, Largan has also become a lens module supplier for other industry giants including Huawei, Oppo, Vivo, and Samsung. The company also says it's begun shipping periscope lens modules and seven-lens camera modules, so we should be looking forward to see those technologies on production smartphones sometime in the near future.