News

LG Preparing True Optical Zoom Lenses For Flagship Phones

LG Innotek, a subsidiary of the Korean electronics giant, has unveiled a new telephoto module with traditional camera optics.

Published

2 years ago

December 28, 2022

Nour Nasir

lg preparing true optical zoom lenses for flagship phones

LG may have thrown in the towel after the likes of Apple and Samsung began to dominate the smartphone market, however, the electronics powerhouse is still a major parts supplier to the entire tech industry.

One of the company’s subsidiary concerns, LG Innotek, supplies camera modules to well-known smartphone manufacturers, and has just announced a new telephoto zoom unit, which will be shown off at the upcoming CES 2023 event.

The company is teaming up with Qualcomm to fast-track the new optics alongside the roll-out of the Snapdragon 8 Gen 2 chip in upcoming Android flagship phones. While smartphones have typically employed digital zoom lenses that use software to reach beyond their default focal length, LG’s design uses moving arts — much like a DSLR— to preserve detail throughout the full range of the zoom.

The resulting lens covers a 4-9x zoom range, along with true optical image stabilization, and it’s hoped that manufacturers will eventually be able to manage with fewer lenses in their smartphones, replacing them with a single multi-use module.

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Sony is the only major manufacturer already offering a smartphone with an optical zoom so far, though Oppo is working on one too. Sony’s Xperia 1 IV doesn’t offer anything like LG’s telephoto range, though, and reviewers have noted that image quality isn’t quite as good as revival offerings.

In the company’s press release, LG Innotek is making a big deal about the new tech, saying that the camera module will help them “solidify the global No. 1 position in the smartphone camera module market.” LG is already in a solid position as we approach 2023, which is largely down to its biggest customer, Apple. The iPhone 15 is rumored to include a folded-optic telephoto lens, and LG looks likely to fit its new tech into a wide range of 2023 android flagship phones.

News

Paymob Extends Series B Funding To $72M Amid Continued Growth

The financial services provider has secured an extra $22 million after strong performance in its core market of Egypt.

Published

23 hours ago

September 12, 2024

Nour Nasir

paymob extends series b funding to $72 million amid continued growth

Leading financial services provider Paymob has secured an additional $22 million in a funding extension, bringing its Series B total to $72 million.

The funding was spearheaded by EBRD Venture Capital, with support from Endeavor Catalyst. Existing backers such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures also participated, reaffirming their confidence in Paymob’s business model and potential in the regional fintech industry.

This extension comes on the back of Paymob’s strong performance in its core market of Egypt, where it has experienced 6x revenue growth since the initial Series B in Q2 2022. With the Series B extension and continued profitability in Egypt, Paymob is well-positioned to further its expansion strategy across the MENA region.

Islam Shawky, Co-founder and CEO of Paymob, commented: “We are very excited by our strong prospects in Egypt – where we hold a market-leading position – and the significant traction experienced in the UAE since launching operations there. This funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out. We remain committed to creating cutting-edge infrastructure enabling SMEs across the region to thrive in the digital economy and are proud of our continued impact”.

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The expansion into GCC markets has been driven by Paymob’s initial Series B funding of $50 million, raised in 2022 and led by Kora Capital, PayPal Ventures, and Clay Point. The investment fueled Paymob’s growth, allowing it to launch its mobile app in 2023 and grow its merchant base by 3.5 times, now serving nearly 350,000 merchants across MENA.

Paymob has also expanded its payment acceptance suite to offer 50 payment methods through its gateway, POS terminals, and the Paymob app, providing the region’s most comprehensive fintech solution. The company recently introduced embedded checkout services for Shopify and WooCommerce, further demonstrating its commitment to empowering small and medium businesses across the region.