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In this video tutorial, the presenter demonstrates how to reduce the file size of photos on an iPhone. They recommend changing the camera settings to capture photos and videos in the high efficiency format instead of the most compatible format, which uses jpeg.h264 and results in larger file sizes. While high efficiency format may slightly reduce quality, it will still provide great results. To do this, go to settings, scroll down to camera, and adjust the format settings to high efficiency. This simple step can help save storage space on your device without compromising too much on image quality.