iPhone XR Shipment Estimates Cut by Nearly 30 Million Units: Ming-Chi Kuo

Estimates of Apple's "most affordable" 2018 model, the iPhone XR, has been cut by nearly 30 million shipments, a famed Apple analyst has written in his research note.

According to Ming Chi-Kuo, an Apple analyst working with TF International Securities, shipment forecast for the iPhone XR has been cut from 100 million units to 70 million units during the product lifecycle.

"It's a reversal from a similar report issued in October in which Kuo said he expected the iPhone XR to be a big seller for Apple," CNBC reported on Monday.

Chinese technology giant Huawei's latest Mate 20 series is hurting Apple's sales even as it is not a big player in the US, Kuo added in the note.

"Kuo outlined several reasons for his lowered estimate, including 'negative impacts on consumer confidence from the trade war, especially in the Chinese market'," the report added.

The iPhone XR also seems to be facing competition from Apple's own premium iPhone XS and iPhone XS models as users prefer the narrower bezels and better cameras on these phones.

iPhone XR parts suppliers such as Career and Nissha printing would be 'the major losers resulting from the XR cut because these two firms cannot benefit from the increased shipment estimations of legacy models'," added the report.

Kuo last month predicted that more people would upgrade to the iPhone XR this year and that the Cupertino-based giant would sell its cheaper model better than the iPhone XS and iPhone XS Max.