iPhone 12 may display 5G even when using 4G LTE, review reveals

Apple has altered the way it displays mobile data connectivity on the iPhone 12, which some users might find misleading.

An early review of the iPhone 12 found the status bar displays the best available mobile data connection, rather than the speed currently in use. So, even though you may see ‘5G’ to the right of the display notch, you may still be accessing 4G LTE speeds.

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https://www.trustedreviews.com/news/iphone-12-5g-status-bar-4105169