Imo Apple doesn't care if the mini is not selling well. What they care is the fact that people are now buying the iPhone 12 for $100 more than last year's iPhone 11 launch price. Sneaky. Apple can afford having a niche model in their lineup if it means they are increasing their ASP. Tim Cook is a money man.The mini never stood a chance.
People who want a small budget phone will go for the SE.
People who want the lowest price Iphone with a modern design will go for the XR/11.
People who want the newest iPhone with 5g all the bells and whistles will go for the 12 since it’s the “default new phone” and they’re likely used to 6+ inch phones by now.
So essentially what are you left with?
You’re left with the small but premium demographic which the mini caters for. Clearly a very small number of people.
But even this demographic isn’t secure, since you’ll have some who can’t give up their telephoto and stainless steel and will go for the 12 pro. Essentially the mini is in no mans land, without an identity or clear target audience. I’m inclined to believe apple would have been better off fully aiming for this “small premium” demographic and just making a mini pro with small production numbers.