Exactly.
And when you offer three different sizes of phones across four models... not all of them can be a hit.
It was never gonna be 25%, 25%, 25%, 25% equally for the 12 Mini, 12, 12 Pro, and 12 Pro Max.
While I personally don't want a Mini... I know there are some people who do. Not a big percentage... but they are there. Apple could sell 10 million or 15 million Minis per year out of the 200 million they sell.
Is that enough to keep the Mini around? I dunno.
I guess Apple thinks that if they don't offer a Mini... people will get the regular iPhone 12 instead.
What are they gonna do... get an absurdly large phone from one of the Android manufacturers?
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My answer would be not buying a new phone and keeping my old one. Judging by other comments plenty of people share the sentiment ... so Apple would lose millions of sales by not keeping the Mini around. I can't imagine it not being economically advantageous for Apple given it's the 8th best selling phone worldwide.