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I wouldn't mind a 5.4" phone at all, assuming Apple doesn't arbitrarily cripple it with lesser parts.

Well, no, they wouldn’t ‘cripple’ the phone, but by eliminating certain aesthetics (i.e Stainless bands/glass back) and various other features, it may not require those parts to be on a cheaper iPhone versus the more expensive iPhone models. Hence the price cut for a mid-tier iPhone. The more endive iPhone models have more to offer in terms of features and hardware.
 
Well, no, they wouldn’t ‘cripple’ the phone, but by eliminating certain aesthetics (i.e Stainless bands/glass back) and various other features, it may not require those parts to be on a cheaper iPhone versus the more expensive iPhone models. Hence the price cut for a mid-tier iPhone. The more endive iPhone models have more to offer in terms of features and hardware.

What I'm saying is, they should go the same route as the 11" and 12.9" iPad Pros where you're essentially picking the model based on physical size and weight, and arguably to a lesser degree, price. Quality of materials and features should not be compromised just because your preference is for a smaller sized model.
 
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Just noticed and started reading the news/rumours of the alleged 5.4" 2020 iPhone model, and I am beyond hyped. Where the hell have I been for the past couple weeks? This is exactly what I wanted. This might be the best (and only) thing SE lovers will get in terms of a successor, and I'm all up for it.

I freaking love the iPhone SE because of its awesome compact size, featherlight weight, and capable hardware. If the 5.4" iPhone model ever comes to light, I wouldn't mind the slight size increase as long as Apple doesn't skimp out on the hardware. I want a premium small phone. All Apple needs to do is take the XS and shrink it down a bit.

It's funny, I upgraded to the iPhone X from an SE and as much as I loved the design and hardware of the X, it was just a bit too big and heavy to comfortably use. So I went back to the SE, but after returning back to the SE from the X, I realized the SE was a little too small.

It seems like the 5.4" iPhone will be the Goldilocks of iPhones; not too big, not too small, just right! Now Apple, make it happen!
 
Sounds like a good move by Apple, especially because every Android competitor has gone big brick crazy.
Slightly smaller than the 8 would be perfect. Weight below 150 grams. People would pay for this.
 
I think the sweet spot for me personally is any size between 5s and 6s.

I tried the XS Max to kill some time, and it was too big. The XR was a little better though.
 
Sounds like a good move by Apple, especially because every Android competitor has gone big brick crazy.
Slightly smaller than the 8 would be perfect. Weight below 150 grams. People would pay for this.

I’d agree, they would pay for it, but I think the other key element is the actual price point of what the consumer is willing to pay for a device of that size. If the price point isn’t relevant to the size of the phone and it becomes too expensive, then iPhone is already troubled before it even launches.
 
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