i am experiencing this issue and it’s really annoying. The first photo I took with my new iPhone 12 I knew something was up. I have been into photography since I was a kid using all kinds of cameras and my last phone was an iPhone 7+ which took really nice photos so to say I was disappointed with the light reflection issue throwing a golden arc across my images is an understatement. The main reason for purchasing a high end phone is good photo quality on the go right!
I have a theory of what’s happening here. I think the light source eg: the sun, is reflecting of one of the lenses edges that now protrude proud of the body of the phone giving nice raised edges for the light to bounce off and land on the lens that you are actually using causing this circular glare all over your image. I use this phone to take photos of jobs we do at work to post on socials etc and this is not acceptable. On top of that there’s the green dots but that’s a while other thing.
I called apple today - they asked to do a software update (after the staff member told me he believes it’s a hardware problem) - I did a software update - I called back as requested if that didn’t fix it - he looked up my case number - he asked me to upload photos and/or videos of the problem - I did- he then checked my settings remotely - all good - he expressed that this should not happen and spoke to his superiors (or the guy on the desk next to him) - he explained that this is not right and agreed to send me a new phone - when I receive this phone I send back the old one - they took a security deposit on my cc unless I do t send the old phone back which is understandable - I explained to him my theory of the issue and he basically said he thinks that’s what’s happening to and I explained to him that when I get the new phone I don’t think that there will be a difference - he agreed - he explained to me that when I get the new phone I’ll transfer my date from this phone to the new one and do a factory reset on the old one (with the problem) - if the new one has problems and the old one doesn’t it’s a software issue based on my data settings - if the old one with factory settings now on has issues then it’s a hardware issue (ie lenses causing abnormal light reflection/refraction) which would then say design flaw in my mind - I received an email 3 hours later that my phone has been shipped already.
From the response I got and the speed to send a mew one out I think this is a common issue and I don’t think that the replacement will fix it (I hope it does but can’t see how it could) I also got a few of my friends with 12 pros to check and when they did u der certain conditions they had the exact same issue. Just to clarify I had clean lenses and no phone case on the phone at all.
I hope this post is helpful to someone. Sorry about the length. Just wanted to get all the details and background in case someone needs it to help them.
I’ll attach a few images. Please note these are images where I was trying my hardest to get it out of my photo and

this is the result.