An alleged 'iPhone 12' schematic has been leaked by Jon Prosser, revealing a smaller notch for the next generation smartphone.
Based on the schematic, Apple has managed to move the speaker out of the notch and into the bezel. This allows the other components housed in the notch to move closer together.
From left to right, the notch features an infrared camera, flood illuminator, proximity sensor, ambient light sensor, front camera, and dot projector.