Apple Inc. (NASDAQ:AAPL) is reportedly increasing shipment estimates of its 20W USB-C charger ahead of the launch of the iPhone 15 series.
What Happened: Ming-Chi Kuo, a notable analyst at TF International, shared the result of his latest survey, saying Apple has increased the shipment forecast of its 20W USB-C charger by around 120% for the second and third quarter of 2023.
See Also: Introducing Apple's Newest Technology: Foldable iPhones With Self-Retracting Displays
The tech giant has set the shipment target at approximately 70 million units for Q4 2023, reflecting its optimism about the strong replacement demand for 20W USB-C chargers following the switch to USB-C for the iPhone 15 series, said Kuo.
The growth is attributed to the strong replacement demand for 20W USB-C models as they are the "most cost-effective choice for iPhone users" among Apple's chargers.
Kuo further stated that one potential factor driving the robust replacement demand could be that future iPhone 15 users might purchase more than one Apple 20W USB-C charger to meet the need for more charging locations.
領益智造為iPhone 15系列改採USB-C與Apple顯著調升20W USB-C充電出貨預估的主要贏家 / LY iTech is the primary beneficiary of the transition to USB-C for the iPhone 15 series and Apple's significant increase in 20W USB-C charger shipment estimations
— 郭明錤 (Ming-Chi Kuo) (@mingchikuo) March 21, 2023
Why It's Important: It was previously reported that Apple saved $6.5 billion by removing chargers and earphones from its iPhone packaging, which started with iPhone 12 series.
At the time, the tech giant said the decision was to reduce annual carbon emissions by two million tons.
Now, according to Kuo's predictions, Apple anticipates a significant 30%-40% growth in its 20W USB-C charger shipments in 2023, amounting to 230-240 million units.
Check out more of Benzinga's Consumer Tech coverage by following this link.
Read Next: Apple's iPhone 15 Could Break This Smartphone Design Record Held By China's Xiaomi