https://wccftech.com/iphone-12-pro-max-5g-only-variant/

Shifting from its regular strategy of releasing three high-end models for 2020, Apple is reportedly going to launch a total of four variants as part of its iPhone 12 lineup. According to the latest report, one of them is going to be a direct successor to the iPhone 11 Pro Max, and if we stick to the chronological pattern of labeling model names, the upcoming one is expected to be named the iPhone 12 Pro Max. Strangely, while others are expected to provide both 4G and 5G modems under the hood, the iPhone 12 Pro Max may only be available in a 5G-only version. We suspect this is for those regions whose carriers are aggressively trying to roll out 5G networks as quickly as possible.

A report from Rosenblatt states that Apple’s iPhone 12 Pro Max could only be sold in the 5G variant, while the less pricey versions of the iPhone 12 lineup are said to be available in both 4G and 5G versions. As for which component should be present, a previous report stated that all iPhone 12 models are expected to feature Qualcomm’s Snapdragon X55 5G modem. If that’s the case, then the iPhone 12 Pro Max will also be backwards compatible with previous-generation networks since the Snapdragon X55 supports multi-mode compatibility.