The Galaxy S27 Pro is shaping up to be more distinct from the Ultra than anyone assumed — at least on paper.
Until now, the working theory was simple: S27 Pro equals S27 Ultra, minus the S Pen, in a smaller body. Reasonable enough. Samsung’s pulled similar moves before. But a new leak is pushing back on that, specifically around the telephoto.
Both phones will apparently share the same main sensor and ultrawide — which tracks, since the S27 Ultra is already rumored to be switching to entirely new sensors for those two. The split happens at the telephoto. Pro and Ultra won’t share that one, though nobody’s spelled out what the actual difference is yet.

Worth noting: the S27 Ultra is already doing something unusual here. Earlier leaks pointed to it dropping to three rear cameras total, one fewer than any of its predecessors, which means a single telephoto to begin with. So the Pro is already working within a reduced framework regardless.
Size is the obvious explanation for the divergence. Smaller chassis, tighter physical constraints, likely a smaller telephoto sensor. That’s the most logical read right now. Nothing confirmed yet though.