diff --git a/inference-engine/src/readers/ir_reader/ie_ir_parser.cpp b/inference-engine/src/readers/ir_reader/ie_ir_parser.cpp
index a3daa63c9da..919ecbddfe1 100644
--- a/inference-engine/src/readers/ir_reader/ie_ir_parser.cpp
+++ b/inference-engine/src/readers/ir_reader/ie_ir_parser.cpp
@@ -700,13 +700,6 @@ V10Parser::V10Parser::GenericLayerParams XmlDeserializer::parseGenericParams(
             port.dims.push_back(dim);
         }
 
-        ngraph::element::Type type(ngraph::element::Type_t::undefined);
-        // Input port hasn't precision
-        if (!input) {
-            const std::string& preStr = GetStrAttr(parentNode, "precision");
-            type = InferenceEngine::details::convertPrecision(preStr);
-        }
-        port.precision = type;
         std::vector<std::string> names;
         if (getParameters<std::string>(parentNode, "names", names)) {
             for (size_t i = 0; i < names.size(); i++) {
diff --git a/inference-engine/src/readers/ir_reader/ie_ir_parser.hpp b/inference-engine/src/readers/ir_reader/ie_ir_parser.hpp
index b482c9fb8b5..e8fdef8a034 100644
--- a/inference-engine/src/readers/ir_reader/ie_ir_parser.hpp
+++ b/inference-engine/src/readers/ir_reader/ie_ir_parser.hpp
@@ -67,7 +67,6 @@ public:
     struct GenericLayerParams {
         struct LayerPortData {
             size_t portId;
-            ngraph::element::Type_t precision;
             SizeVector dims;
             std::unordered_set<std::string> names;
         };