Total Apple (NASDAQ: AAPL) AirPod shipments are likely to reach 120 million units in 2021, TF International analyst Ming-Chi Kuo estimated. The analyst cited Apple an AirPod promotion, Apple canceling in-box EarPods in the 2nd-half of 2020, and the replacement demand of AirPods 3 in the 1st-half of 2021.

"We predict that Apple will have AirPods promotion programs in 2H20 and 2021," Kuo commented. "If the AirPods shipment could beat our estimation, it implies the promotion programs and iPhone 12’s cancellation of in-box EarPods are very helpful for boosting AirPods shipments, and the AirPods shipment forecast would have the upside in 2021. We predict that Apple will launch AirPods 3 and discontinue AirPods 2 production in 1H21. We believe that AirPods 3’s new form factor design, which is similar to AirPods Pro, will benefit the replacement demand

For 2020, the firm had increased AirPods Pro shipment forecasts by 15.5% to 44.7 million units and lowered AirPods 2 shipment forecasts by 10.9% to 49.1 million units. Meanwhile, their prediction of 93.8 million units for total AirPods
shipments in 2020 is unchanged.