In this article, a 4-port electrically small multiple-input multiple-output (MIMO) antenna system functioning in 5G n78 band for the future smartphone implementation is recommended. The system includes two antenna pairs that are positioned in the exact centers of the vertical edges of the smartphone system. The overall size of each antenna pair is only 23.5 × 5.2 mm². The reduction is size is obtained by connecting the two radiators, and the antenna pair is excited by coaxial feeding technique. A very good and acceptable isolation amid the antenna elements are accomplished by inserting a T-shaped structure, and is further enhanced with the addition of a reflector at the backside of the radiator. The self-isolated MIMO system operates in the n78 sub-6 GHz band (3.4–3.6 GHz) of the 5G Frequency Range 1 (FR1), with worst case isolation of −17.5 dB between the antennas in the same block in the entire band of operation. The evolution analysis to acquire the proposed structure and parametric study of some ideal parameters are carried out to get a superior insight of the operating principle of the proposed structure. Various MIMO diversity parameters such as Envelope Correlation Coefficient (ECC), Channel Capacity Loss (CCL), Total Active Reflection Coefficient (TARC), Diversity Gain (DG), and Mean Effective Gain (MEG) of the MIMO system are measured and compared with the calculated values. The ECC value is <0.009 in the whole essential operating band, the poorest being between Ant.1 and Ant. 2. A model of the designed smartphone MIMO system is fabricated and experimentally verified, with acceptable coherence between the simulated and the measured results. The MIMO system has a total efficiency and peak gain over 74% and 4.53 dBi correspondingly in the complete operating bandwidth, making it a suitable contender for the future 5G smartphone application. Likewise, the effect of user hand on the S-Parameters and antenna pattern are studied and acceptable results are obtained. Also, the specific absorption rate of the system is analyzed, and <1.23 W/Kg is achieved.