The iPhone 12 is rumored to be 5G-capable, but it won't win over a huge number of customers.

This is a prediction by AT&T CEO Jeff McElfresh, who discussed 5G adoption on CNBC's "A View From the Top" and does not expect people to rush out to get a new iPhone when 5G connectivity is reportedly coming sometime in October He doesn't.

While 5G has been creeping into flagships and inexpensive devices for the past few years, it has been predicted that once Apple releases the first 5G iPhone, there will be a significant increase in the purchase of 5G-enabled devices.

However, neither in the US, where McElfresh resides, nor in the UK, much of the necessary 5G infrastructure has yet been deployed outside of major cities. In other words, buying a 5G phone now is future-proof, but unless one lives in one of the few cities or towns where 5G has been deployed, users will not immediately realize the benefits of being 5G-enabled.

The iPhone 12 is expected to support 5G in all four models thanks to the new A14 Bionic chipset. However, McElfresh believes that many users who get the phone will not take advantage of this feature and will stick to using the cheaper 4G LTE service they are used to.

"I wouldn't predict that it's going to be a massive event, although I do believe you'll see a lot of iPhone subscribers moving to upgrade to the device," he said. 'But I wouldn't predict it will be a massive event. I think customers will make calculated decisions about what they want based on the economic pressures we all face today."

For users who are decidedly not interested in the iPhone 12 5G, there are rumors of a 4G-only model that would be cheaper than other models. However, this model is rumored to appear next year, a long wait compared to the usual smartphone update cycle.

The rest of the iPhone 12 lineup is expected to be revealed at an event next month. Aside from the new 5G chipset, the big new upgrades for the phones will be the OLED displays on all models and the new LiDAR depth sensor in the rear camera block of the iPhone 12 Pro model.

In all, there will be four models to choose from, the largest number Apple has offered in a single iPhone generation. The smallest could be called the iPhone 12 Mini and will be 5.4 inches wide. There will be a standard iPhone 12 and a 6.1-inch iPhone 12 Pro, and the iPhone 12 Pro Max will be the largest iPhone yet offered at 6.7 inches.