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In this video tutorial, the speaker provides instructions on how to reduce the file size of photos on an iPhone. The first step is to go to the settings application, navigate to the camera settings, and select the high efficiency format to capture photos and videos. This format will reduce the file size, although the image quality may not be as high as with the most compatible format. This is a commonly known tip, but it can be helpful for anyone looking to save storage space on their device.