In brief: TF International Securities analyst Ming-Chi Kuo said in a recent note to investors that he believes Apple's next iPhone will feature a 48-megapixel camera and get a periscope-style lens the following year.

Kuo previously said the rumored 48-megapixel camera will be limited to the iPhone 14 Pro models, Apple's upper echelon handsets. The new camera, which is also said to be capable of recording 8K video, may also support 12-megapixel output through pixel binning. While not new, the feature is meant to improve image quality in low light by combining data from multiple pixels into one, albeit at the expense of resolution.

A periscope lens isn't a new innovation, either. The Huawei P40 Pro+ features one, which as the name suggests, allows for an extended optical zoom range. On the P40 Pro+, it enables 10x optical zoom. For comparison, the iPhone 13 Pro Max can only do 3x optical zoom.

Kuo in a note from earlier this year said a notch-eliminating under-display Face ID / Touch ID could also be in the works. For many prospective buyers, this could be a bigger selling point than a new camera as the notch isn't universally liked.

In the latest investor note, Kuo said the incoming camera upgrades will enhance optics supplier Largan Precision's market share, and thus, revenue and profit. Shares in that company are up more than 1.5 percent on the rumor.

Image credit The Gate