Guosen Securities publishes its research report on Sunny Optical - Chinese maker of lens and camera modules. Few quotes:
"Aside from rapid pixel migration (8MP & above over 70% in 1H16), Sunny will benefit from the rapid adoption of dual camera modules in FY16-18. In 2016, we already see Huawei, LG and Xiaomi adopting dual cameras ahead of Apple and Samsung and we expect other competitors very likely to adopt the feature in their upcoming flagship phones to stay competitive. We expect 4% adoption in FY16 rising to 23% through FY18. Beyond that, we predict smartphones will adopt even more cameras to support 3D and augmented reality functions. We forecast HCM revenue to rise at 24% CAGR through FY16-18 while margins should be on a mild uptrend supported by dual camera ramp up."