Apple has cut its shipment estimations for the 2020 iPhone 12 by 50%, from 30-40 million to only 15-20 million according to DigiTimes.
In specifically, mmWave-enabled 5G iPhones expected to launch in the fall. The report states that the decreases in sales are only likely to drive up competition between suppliers. The reasons for the cuts remain unknown, however, given the current global economic situation Apple could be sensing people aren’t willing to cough up $1,000+ for a new phone this year.
COVID19 has hit companies such as Apple hard forcing them to shutter all stores, reopen some, and more recently started to close them once again. Apple has still managed to release new devices through the pandemic and they seem to be selling relatively well. Another possibility is Apple is simply not being confident in its suppliers to meet the 30-40 million benchmark causing them to slash it in half.