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In this video tutorial, the presenter shows how to reduce the file size of photos on an iPhone by changing the camera settings to capture photos and videos in high efficiency format instead of the most compatible format, which uses jpeg.h264. By setting the format to high efficiency, the file size will be reduced, although the image quality may not be the best. This setting can be found in the camera application under formats in the settings. This tip is known by many, but it can be helpful for anyone looking to save storage space on their device.