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In this video tutorial, the speaker demonstrates how to reduce the file size for photos on an iPhone. The first step is to go to settings, then scroll down to the camera application. Under the formats option, selecting high efficiency will help reduce file size, although it may slightly decrease the quality of the photos. This setting captures photos and videos in a different format than jpeg.h264, which usually results in larger file sizes. Choosing high efficiency can help save storage space on your device.