Hi Guys, For those who are facing "No Sim installed" issue.
I faced this issue after updating to iOS 14.2 recently.
Please try these steps, it worked for me :) Power off the device.
Remove the Sim card.
Power on the device.
Go to Settings>General>Reset>Reset network settings (remember your stored wifi passwords will get deleted).
Keeping the device on and not in Airplanemode, insert the simcard.
This worked for me and the phone shows signal again. I hope this works for you too.
@Apple This is so annoying and not justifiable for a device which costs this much and the even the basic cellular connection is not working properly.