Lumentum dips as analyst says Sony will replace it in iPhone 15 Pro
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Lumentum (NASDAQ:LITE) shares fell nearly 5% on Friday as a widely watched analyst said it would be replaced by Sony (NYSE:SONY) in the upcoming Apple (NASDAQ:AAPL) iPhone Pro models.
TF International Securities analyst Ming-Chi Kuo tweeted on Friday that Sony (SONY) would be the exclusive supplier of the time-of-flight vertical-cavity surface-emitting lasers in the Apple (AAPL) iPhone 15 Pro and iPhone 15 Pro Max, as Lumentum (LITE) faces "long-term structural risks" in the market.

Kuo added that Sony's vertical-cavity surface-emitting lasers, or VCSEL, solution integrates the VCSEL and an integrated circuit driver, which allows for lower power consumption or better time-of-flight performance. This is beneficial for camera and potential augmented reality applications, Kuo explained.
As such, Kuo believes that Lumentum (LITE), which designs the VCSEL, and Win Semi, which manufactures it, will see its share decreased in the upcoming high-end iPhone models to between 30% and 40%, down from a previous 50% share.
Sony (SONY) shares were fractionally lower in Friday trading.
Earlier this month, Lumentum (LITE) reported mixed second-quarter results and weaker-than-expected guidance.