Will s110 replacement use smaller sensor?

Some interesting comments from Canon interview at dpreview.  Maybe the S120 will follow the XZ-10 with a 1/2.3" sensor and faster lens.

"However, he ruled out the idea of a larger sensor camera along the lines of the Sony RX100 to offer more of an image quality distinction between smartphones and compact cameras. 'I think the market does exist but it wouldn't be very large. We think we have a good balancing point in terms of price, image quality and size. Lots of other combinations are possible, but, once you go below APS-C the next logical size is 1/2.3 inch', he says."