Rumors say the iPhone 12 expected this fall will come in one model with a 5.4" screen and no bezels.
That’s half an inch less diagonal than the 11 Pro which is already smaller than the XR. If I assume the H:W ratio remains unchanged from the 11 Pro, that would result in a device with just shy of a 1/4" less width than the 11 Pro. Roughly 5.3" high and 2.6" wide overall. Or about 0.15" shorter and 0.05" narrower than the 8.
If these rumors are true, although we won’t be getting something like the 2016 SE, there is hope that at least we’ll be getting something noticeably smaller than the 11 Pro or the 2020 SE.
Silver lining, the low-budget 2020 SE will still remain quite close in size to this rumored 5.4" 12 meaning that there will be a good selection for those who felt left out with the recent 11s — both those who want inexpensive rather than small, and those that prefer small over cheap.