Ming-Chi Kuo is back. The world’s most acclaimed Apple insider has returned with explosive news on Apple’s pricing plans for its all-new iPhone line-up.

Having moved from KGI to TF International Securities earlier this year, Kuo was expected to step away from Apple reports. But in a major scoop, the analyst reveals Apple will perform a massive U-turn this year slashing prices of its new iPhones by as much as $300.

Breaking this down, Kuo states prices for the second gen iPhone X, enlarged iPhone X Plus and exciting ‘budget iPhone X’ will start from as low as $800, $900 and $600 respectively. Given prices for the first generation iPhone X started at $1,000 last year, and Apple is also bundling an essential $100 extra with all its new iPhones this year, that’s a total saving of over $300 including tax.

Kuo does note these prices could be as much as $100 more, but it’s interesting to see the drive downwards after more conservative estimates in April.

What has motivated Apple’s big price cuts? Kuo lists three factors:

"Firstly, he says internally Apple has expressed “concern over the negative impact of a higher price in a mature smartphone market on selling momentum” after the iPhone X failed to spark a widely expected sales supercycle, despite celebrating the range’s 10th anniversary with a radical new design."

Source: forbes