We are positive on the new US smartphone launch that took place this morning. The biggest highlight was the implementation of a 120Hz OLED panel on the 13 Pro and 13 Pro Max, supported by the new A15 chipset which is based on TSMC’s N5P processor, with faster processing speed by 44% while achieving 2.5 hours longer battery life. All models retained their starting price with the 13 Mini and 13 having twice the storage capacity at no extra cost. The US smartphone company’s commitment to double the support of 5G to 200 carriers across 60 countries means a healthy order pipeline for Inari’s RF testing services. BUY with a TP of RM4.80 based on 40x FY22E PER.

The US smartphone manufacturer has unveiled its latest smartphone offerings via an online launch event, featuring four models, the 13 Mini, 13, 13 Pro and 13 Pro Max. All models will be running on the latest A15 chipset based on TSMC’s N5P processor, offering 44% faster processing speed while achieving longer battery life of up to additional 2.5 hours.

We are positive on the launch, with the main highlight being the introduction of an 120Hz OLED display panel which is the first ever implementation in its smartphone line-up. This dynamic high refresh rate display will only be available on the flagship models, 13 Pro and 13 Pro Max, supported by a 5-core GPU paired with the A15 chipset. Maximum storage capacity is now bumped up to 1TB (double of last year’s model) to satisfy multimedia enthusiasts with growing demand for media consumption and photography as the 13 Pro and 13 Pro Max features larger camera lenses which promises up to 2.2x improvement in low light scenes. The US smartphone company aims to double its support of 5G to 200 carriers across 60 countries by working on custom designed antennas and RF components to support more frequencies. This means that Inari will continue to see healthy demand for RF test and assembly jobs as the adoption and availability of 5G continues to roll out.

Source: Rakuten Research - 15 Sept 2021