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Things are really jam packed in there. Battery is small compared to the compartment size.
 
Somebody I know who went from an OG se to an (unhappily at the time) XS, now refuses to downsize to an mini. While choice is good I wouldn’t be surprised if this was the least selling device.
There is strong competition between devices but, I think the mini will sell very well, especially at Christmas with little people and adults like me, who like a small phone.
 
While this is common, there is a 'cult' of people who want a smaller phone and would sacrifice screen size (and battery life) for such a device. We have been asking for YEARS for this and Apple finally listened... They wouldn't have bothered to make it if there wasn't a demand.

Of course, the 12 and 12 pro will sell more but the SE line may have been absorbed by virtue of adding this phone. I hope this is a trend that continues, as it greatly simplifies the iPhone lineup.
I think you’ll find many who want a 4” display like the SE are not satisfied in the least by the 5.4” mini. Much larger than the 5/5s/SE (2016).

Also, the 12 mini is a $699 device, so no it won’t (and wasn’t meant to) replace the $399 SE. The SE is a price point phone, Apple will put as big a screen as cost will allow in a $400 iPhone. Was 4”, now 4.7”, 6.1” might be next in 2024 or so.
 
How do we know that? Has that been tested? The only comparison we can make is with the original iPhone SE and we don't know if that sold so well because of the price or the size.

I'd like to find out.
The 2016 SE didn’t sell that well, as far as I know.

Apple even cut the price from $399 to $349 after the first year in an attempt to spur sales, but most wanted bigger displays—even though they’re (much) more expensive.

But expectations are high for the new, larger SE. Supplier ordering reports of 30+ million first-year sales alone. Who knows how well individual models sell though 🤷‍♂️
 
I wish the mini were a little smaller. Let's not pretend this is a small phone. It's a normal sized phone in a world full of huge phones. Give me an iPhone Nano. iPhone 4 sized phone with a 4.3 inch screen. That would get people's attention.
Three years ago I would probably have bought this 4.3" iPhone Nano. In 2013 I had a screen that size. But not now. My size is 4.7 to 5.4, though I had Android phones that were 4.5 and 4.6 and I thought they were alright.

A 5.4" screen is actually on the upper edge of what's comfortable for me. I'm typing on that right now. I like to swipe type one-handed, but that's just me.
 
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Three years ago I would probably have bought this 4.3" iPhone Nano. In 2013 I had a screen that size. But not now. My size is 4.7 to 5.4, though I had Android phones that were 4.5 and 4.6 and I thought they were alright.

A 5.4" screen is actually on the upper edge of what's comfortable for me. I'm typing on that right now. I like to swipe type one-handed, but that's just me.
I lost one-handed operation when I went from the 5s to 6s. Typing is one thing, but hitting targets at both the top and bottom of the mini without changing my grip is impossible 🙁
 
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Am I the only one that would actually like a bit of a larger phone (bigger than max iszes)? Mini seems silly sized TO ME but to each their own.
Bigger than 6.7”? Don’t hold your breath.

Sure it could go higher, but I doubt it. Have you used the 12 Pro Max in person? It’s huge.
 
I do not have big hands and I can operate it with one hand. The nice addition is on iOS14 widgets. I have on my home on top the calendar widget - full width - and the icons start a little lower than the top of the screen, so very comfortable to use (it cannot be said for an iPhone 12). Also the Notification Center is easy to reach with my thumb. The width of the phone is perfect for one hand, even with a case.

Long live one handed phones!

My two cents
 
Bigger than 6.7”? Don’t hold your breath.

Sure it could go higher, but I doubt it. Have you used the 12 Pro Max in person? It’s huge.
That's what I currently have. Now I'm not saying I want it as big as an iPad mini, but I have no issues putting one of those in my cargo shorts pocket (not the cargo pocket my regular pocket)... now jeans, that I wear maybe 2 x a year, would be a different story. I am 74.5 inches tall with "big" hands... with slight manipulation (sliding the phone about 1/4 inch in needed direction) in my had I can touch all corners of the phone one handed. Not sure how the ratios would work but 7.2 or close to that number to get the proper "look" wouldn't be horrible in my eyes. I do however figure it won't happen.
 
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Not mine. So far I haven't seen a big hit to battery life. But then, my usage might not be average. I rarely make phone calls. I check various apps during the day, like Mail and Messages, and play some games -- but not frequently. I also close an app after I'm done with it. I do shoot a lot of video, although during the pandemic I haven't been doing much of that. So I'll see how it holds up when things start getting back to normal. I do have a separate power pack, so I don't worry about running out of juice under those circumstances. But it will be interesting to see how far I can get before running low.

UPDATE: After about four hours of having the mini in my pocket and not using it, the battery went from 65% to 58%. There are no background apps running, so I don't know why it's bleeding power when it's sitting there unused.

Thanks for the reply! I can say that after setting up my phone as new (rather than from my backup, as I originally did) the battery life appeared to improve. But it’s wildly inconsistent. I’ve had days where I had 2 hours screen time and I was running low, I had one day where I had 6 hours screen time and was at 50%. Of, course different activities can drain differently, but jeez.

I’ve also seen surprising idle battery drain in my pocket, basically all background app refresh turned off and almost no notifications. I wonder if there are software issues. Friends with iPhone 12 also say they’re surprised by idle battery drain (with 5G turned off, like me). What is going on?
 
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