Having owned the note 2 for well over a year and a half, I still do not prefer a phone this big. As an actual phone, I'd describe this thing as a huge pile of worthless crap. The relatively smaller 4.7 inch galaxy S2 my wife has isn't much better either. In fact, I don't even find the iphone 5 as the perfect size.
So what's the perfect size for a phone IMO?
I have a 3.5" iPod touch (3rd gen) and that my sir is THE perfect size for a smartphone, IMHO. That thing is a delight to hold in your hands. It borderlines on perfection IMO. Get rid of the unnecessary top bezel, trim the bottom bezel a tiny bit (while still keeping the home button and Touch ID) and and fit the 5s screen inside the same body and it'll reach absolute perfection! For me atleast.
Carrying around the note 2 or other big screen phone isn't really a problem for me. It slips easily in my jeans pocket. Problem is while using it. I got so annoyed by the note 2's screen size, I ended up going back to my trusty old dumb phone for the actual phone part. Now I carry both the devices.
For me, the one handed use trumps any advantage a bigger screen can offer. Other than watching videos and maybe gaming (both of which I'd much rather do on the ipad instead), I do NOT see any advantage of the bigger screen once you consider the need to use both your hands with the note ii. From calling to typing to even web browsing, everything is way easier on the iPhone's smaller screen. If I have to use my other hand just to open a new tab or hit the URL bar or simply checking my call logs, its a fail already IMHO.
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Now, about apple's 5.5" phone, if they end up making it the same way android manufacturers do, it would also be a piece of crap IMO and I'll lose all respect for apple. Sure it'll sell and many, even most, will love it but not me. I'd be very disappointed if apple didn't make changes to the iOS to make it a better fit for 5.5" phone specifically.
With a few tweaks and intelligent UI design, I think a even a 5.5" screen can be made single hand friendly and more importantly, a phone worth manufacturing instead of simply a means to attract buyers which have been lured away by android thanks to "bigger is better no matter what" mentality. Unfortunately, neither google nor android hardware manufacturers have any idea how to do it. Samsung's solution for the problem was making the phone dial pad slightly smaller and closer to your chosen side edge. And that's about it. If I want to check my call logs or hit the contacts in the phone app, tough luck! Can't do without using the other hand even though I ticked the little box in settings saying it'll make the phone app more single hand friendly
How hard can it be really to make sure you can atleast do the simplest of the tasks like making a call and browsing the web single handily? Took me 5 seconds to come up with a solution. Just add a gesture where if you swipe from the middle of the phone towards the bottom, the buttons for contacts, logs etc hit the bottom of the screen and go back up with an upward swipe. For browser, put the URL bar at the bottom. Or double tap and swipe sidewards/downwards for bringing down the URL bar. For notification bar, use the same swipe-up-from-bottom gesture apple currently uses for its quick settings menu. From there you swipe left/ right to toggle between the quick settings and notif bar. Or as an alternative, use the bottom left side for settings menu and bottom right for notification bar. For keyboard, swiping towards either edge makes it smaller and shifts it towards the edge. Credit to samsung here as note ii already does this even though not as easily as a simple swipe to go back and forth between smaller and full size keyB but as a permanent change in settings instead.
How hard can this be? And what exactly is the harm here especially considering the one handed use has been the single biggest criticism of current phablets? So far I haven't felt any real worries for apple as a result of loosing Steve jobs but if apple ends up with simply a bigger screen with more rows and columns as the only real change in the 5.5" phone, I'd worry for the first time if Steve jobs left the company in wrong hands....