Apple’s new U1 chip uses Ultra Wide Band (UWB) technology for spatial orientation, allowing the iPhone 11 to pinpoint the location of other Apple devices equipped with U1. Imagine GPS on the scale of your living room. Therefore, if you want to share a file with AirDrop with someone, just point your iPhone to this device and it will be the first on the list.
Interestingly, the new chip is only mentioned on the American Apple website.
According to rumors, UWB is necessary for the Apple Tag gadget to work for things. It was expected that Apple will introduce it on September 10, but this did not happen. [MacRumors]