Apple hires two camera suppliers for the iPhone 5

Apple has tapped both Largan Precision and Genius Electronic Optical to supply some lenses/camera modules for the rumored upcoming iPhone 5, according to the Taiwan Economic News. Both of the companies have worked on 5 megapixel camera modules that you can now find in the iPhone 4, so it's not too surprising that Apple has gone back to those same sources for what are supposed to be 8 megapixel kits in the next version.

And while that seems like good news for Apple, it's also obviously good news for these two companies, who have both earned a 27.5 percent global market share together. If they are contracted for the next iPhone, that share will likely go even higher.

Post corrected to clarify that lenses themselves do not carry a megapixel rating.