As per the newest report from a reliable source, iPhone 12 will be priced starting from $649, for the 5.4-inch model with OLED display, 2 cameras, and 5G networking. Prices for other models are also included in the details, along with confirmation that 120Hz ProMotion display will be restricted to only iPhone 12 Pro models.

The source for this report is Jon Prosser, who was right on the money with his iPhone SE leaks. He confirmed with his sources regarding the prices and features for the iPhone 12 models. In a surprise move, Apple would be pricing the new base-model 5.4-inch iPhone 12 at $649, which is almost $50 cheaper than the current base-model iPhone 11. However, the direct successor to the current 6.1-inch iPhone 11, will is the 6.1-inch iPhone 12, which would start from $749, which will be a $50 increase in price compared to its predecessor, which costs $699 right now.

The good news is that all the new iPhone 12 models will ship with two important upgrades: OLED and 5G networking. Inclusion of OLED across the line-sup will mean that flagship iPhone buyers will not have to settle for an LCD anymore. Although Apple's LCDs are second to none, OLEDs feature true blacks, better contrast and brightness, lower power consumption, and just better overall image quality. 5G networking on all iPhones would also push the industry forward towards adaption of the newest cellular standard, however, some reports suggest that Pro models would support faster 5G speeds, compared to non-Pro iPhone 12 models.

Here is the price/feature breakdown as reported by Jon:

5.4-inch iPhone 12 D52GOLED/5G2 cameras$6496.1-inch iPhone 12 D53GOLED/5G2 cameras$7496.1-inch iPhone 12 Pro D53POLED/5G3 cameras + LiDAR$9996.7-inch iPhone 12 Pro Max D54POLED/5G3 cameras + LiDAR$1,099

Unfortunately, If you were expecting that Apple would announce a $1,400 competitor to Samsung S20 Ultra, it is not happening.

Despite the move to OLED, Apple will feature 120Hz ProMotion displays only on the Pro models. We expect Apple to implement it without any reduction in display resolution, which is not the case with the likes of Samsung Galaxy S20 Ultra. On S20 Ultra, switching to a higher refresh rate requires lowering the display resolution.

Jon Prosser also confirmed to us that under-display Touch ID will not be a feature in any of the new iPhone 12 models. Perhaps Apple is working on this and might include it in future models, but it is not on the cards for this year. Face ID will be the standard authentication method on these 2020 phones.

Other confirmed features for iPhone 12 include a smaller notch and thinner bezels, and will look like an iPad Pro. It is being reported that production of the new smartphones is delayed by a month, however, we expect it to still be announced around September, with shipping times scheduled as per production and availability.