This is according to a report from display analyst Ross Young who claims that Apple may or may not feature 120Hz displays on its iPhone 12. Young claims that while Apple might have sourced 120Hz display panels, they are apparently having difficulty in sourcing 120Hz driver ICs.
So what does this mean? It means that either Apple could delay the iPhone 12 while they wait for these driver ICs to become available, or possibly launch the iPhone 12 without 120Hz displays. Interestingly enough, Young had previously claimed that the iPhone 12 will not come with a 120Hz display as his contacts have been unable to corroborate the rumors, but now it seems that he thinks that there could be a slight chance.
https://twitter.com/DSCCRoss/status/1297779408409747456
Apple had previously confirmed that the iPhone 12 will be launching later than usual, but it was unclear why that might be the case. It was speculated that maybe it had to do with the coronavirus pandemic that forced factories to temporarily shutdown, but either way, we will most likely have to wait until October (or possibly later) for the official word.