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The XS is 7.7mm thick, the SE 7.6mm. It's not a relevant question.

Were the new generation of phones thinner than the jack I'd have to concede you may have a point, but that is not what we're getting.

If the question becomes "would you like 0.2% more battery or a headphone jack?" I doubt many would vote to remove.

Exactly. My old iPod touch is a mere 6.1 mm thick and has a headphone jack....

I doubt the difference will only be 0.2%.

My rough calculation is that you get 165 mAh for every 1 cubic cm. A headphone jack will take approximately 1 cubic centimeter inside the case.

The iPhone X battery is rated for 2716 mAh.

So if you could use 100% of that volume efficiently for increasing battery volume, I think battery capacity increases approximately 6%.