The periscope phone lens has a bright application prospect; however, the problem of a large chipping size in the grinding process for the periscope phone lens module components seriously limits its development. We address the problem of the large edge chipping size in the grinding process of small-sized module components of periscope mobile phone cameras by investigating the influence of the grinding speed, feed speed, and grinding depth on the chipping size through theoretical simulation analysis and single-factor variable experimental verification. The optimal grinding process parameters were preferred, and yield experiments were conducted using the preferred process parameters. The results show that increasing the grinding speed and decreasing the feed speed and grinding depth can effectively suppress the chipping size of the component grinding edge.