Camera lens company Kolen plans to expand sales of lens aimed at budget model smartphone, the company said on Tuesday.
The South Korean firm previously relied on lens used in flagship smartphones. It is a supplier to Samsung Electronics.
Multi-camera smartphones with more than three cameras accounted for 15% of total smartphones in 2020, Kolen said. This has increased to 35% this year and will increase to 50% in 2021, it said.
The company expects lens supply to increase to Samsung Electronics as the South Korean tech giant expand its market share next year to fill the vacuum left by Huawei.
Kolen last month decided on an 18 billion paid-in capital increase to secure cash to expand its Vietnam factory.
The facility is expected to produce 13 million lens per month after the expansion, more than double the current capacity of 6 million lens per month. It will also produce more 5P and 6P lens.
Kolen is also planning to move some of its facilities in the Philippines to Vietnam. The Philippines factory has a production capacity of 9 million lens per month but COVID-19 has put production at a halt and increased uncertainties.
The company can produce lens with over 48MP as well as wide-angle, telephoto, depth and Time of Flight lens.
It is developing three new 64MP lens. It first supplied 64MP lens to premium smartphones last year. More of them are being applied to mid-tier models this year.