According to analyst Daniel Ives from the Omega leaks and Rumors, Apple is reportedly working on launching two iPhone 12 models that support only 4G networks.

Omega LEAKS and RUMORS@omegaleaks

my first iphone rumor is the 4g version of the 12 and 12 max
iphone 12(4g) if it happens will be 549$
4g 12 max will be 649$ and there 5g prices are 649 and 749 just like jon prosser said

Although more and more OEMs are launching 5G exclusive lineups, most nations have not yet adopted the next generation of wireless data. In order to secure sales in those regions, Apple has decided to launch two cheaper, 4G only models of the upcoming iPhone 12 along with its first lineup that supports 5G connectivity.

Ives has detailed that the iPhone 12 will start from $549 while the LTE only iPhone 12 Max will be priced at $649. The iPhone 12 model will most likely sport an LCD display like the vanilla iPhone 11 model that retails for $699. It looks like Apple is working on making its products available to a larger consumer base by coming up with an aggressive pricing strategy. Of course, the 5G models with similar specifications will cost more.

In other words, according to analyst Jun Zhang Apple will most probably launch six iPhone 12 models. This will include the iPhone 12 4G, iPhone 12 Max 4G, iPhone 12 5G, iPhone 12 Pro 5G, and iPhone 12 Max 5G.