5G smartphones are forecasted to account for 50% of the entire market in 2023, as per IDC. Budget 5G smartphones are already a thing in 2020. They are expected to get even more affordable in the coming months. A new report further confirms it.

These days, budget smartphones offer certain features that cannot be found even in premium devices. However, the experience cannot be the same as on those expensive flagships. Nevertheless, these affordable phones are value for money, especially those by Chinese companies.

Now, according to DigiTimes, optical lens module suppliers from Taiwan and China are gearing up to expand their share in China’s entry-level and mid-range 5G smartphone market. That’s because popular smartphone makers like Huawei, Oppo, Vivo, and Xiaomi are currently focussing more on these type of devices.

Some of these notable optical lens module suppliers are Taiwan’s Newmax Technology and Chinese firms like Sunny Optical Technology, O-film Tech, and Q Technology.

Talking about Newmax, DigiTimes says that this company’s shipments will regain momentum in the second half of 2020 after slower sales in the first half of this year.

The Taiwanese company’s revenue declined 9.7% YoY due to poor performance in H1. It’s revenue totalled at NT$1.891 billion, which happens to be 28.7% lower than last year.

UP NEXT: Global Smartphone Shipments to post double-digit growth in 2021: Digitimes Research

The post Optical lens module suppliers are getting ready for more affordable 5G smartphones appeared first on Gizmochina.