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1. We don't have the tech for smaller notch, which is the requirement for an iPhone SE X design. I think that is possible only with Face ID 2.0.

2. It is strange that Apple kept A8 alive and not the A9. The TSMC 20nm is a short node, and most moved to the 16/12nm. 20nm is the last node without using FinET might be the reason, but if cost were a concern we don't see large scale 28nm customers moving to 20nm.

3. If iPad Pro were an indication, Apple might want to move to Square Box design for next iPhone, similar to iPhone SE. Getting rid of it this year will allow the design to be "fresh" next year.

4. I still believe the "S"E name doesn't sit well with Apple, and one reason why the iPhone 8 wasn't a iPhone 7s. Now Apple is using the S in Xs, they decide rather than Renaming the SE into something else, they might as well drop it.

5. Apple had wanted to name their Phones like Cars for a long time. As Steve had always wanted to an BMW company rather than Toyota. Phil Schiller also mentions R being used in Car for the naming of Xr. I think Apple's next year iPhone model will be simplified and they drop the Number from their naming. iPhone S, iPhone R, and Possibly iPhone E.

6. Hopefully with Face ID 2.0, we could see iPhone S with 6.5", 5.8" and 4.7" / 4.8", the same physical width of iPhone SE depending on thickness of Bezel.

7. There is still a Cheap, and Small 4" Devices that Apple currently sell, the iPod touch. If Apple were to drop the iPhone 8 line up from next year, the iPhone 7 will be renamed as iPhone E, and adds a 4" iPod touch like with cellular for the same price as iPhone SE with iPhone 7 internals.

So Next Year, we end up with Face ID, Stanless Steel, smaller notch, (hopefully) even thinner Bezel, Square Box Design for the S. The same Face ID 1..0 and same rounded design in R. And the Touch ID based design as E.
 
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