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I’ve got an iPad. I’ve also got an iPhone. They’re different devices with different form factors having different functionality.

Look, it’s dirt simple. If Apple smelled money in smaller phones, there’d be smaller phones. But the problem for small-phone-enjoyers is two-fold: firstly, that they keep buying the larger phones anyway, so their small-phone-enjoying is unnoticeable in the quarterly sales figures, and secondly, they’re wildly outnumbered by large-phone-enjoyers, so their small-phone-enjoying would be unnoticeable in the quarterly sales figures, even if they did stage a co-ordinated non-large-phone-buying event.
You forgot the biggest reason: The App store.

Time and time again studies show that the larger the screen size, the more money you are likely to spend in the app store.
 
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I've seen a lot of people lately with the 16e, 16, 16pro (and even 16+) and not so many 16PM and wondering why? I though bigger was the way to go? Who has done smaller and why?
I have the 16ProMax. It's the biggest phone I've ever had and I wish we'd go back to the iPhone 4/5/SE days.

I don't understand the obsession with phones that are too large to easily fit in most pockets or operate one handed.

I got this to see if I was missing out on something and I absolutely am not.
 
I really enjoy my 16 Pro. Great screen size at 6.3" while still being fairly easy to hold. Maybe just a tad heavy, but not bad. We really are getting quite close to that "single pane of glass" that Apple is striving for, minus the Face ID/Dynamic Island.

The iPhone Air looks interesting, but I'm not sure about the tradeoff in the camera department. Remains to be seen I guess. The iPhone 16 Pro has fantastic battery life (IMO) and great cameras, two things I wouldn't want to give up now.
 
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I have the 16ProMax. It's the biggest phone I've ever had and I wish we'd go back to the iPhone 4/5/SE days.

I don't understand the obsession with phones that are too large to easily fit in most pockets or operate one handed.

I got this to see if I was missing out on something and I absolutely am not.
so do you like the 16 PM?
 
I've seen a lot of people lately with the 16e, 16, 16pro (and even 16+) and not so many 16PM and wondering why? I though bigger was the way to go? Who has done smaller and why?
I'm going lighter and slightly smaller this fall (iPhone 17 Air). I hate the size and weight of my 16 PM at this point.

Next year hopefully we get the folding iPhone that will be quite short. That device will be heavier than the Air of course but it will also be easier to reach the top, which I can now appreciate much more.
 
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I've seen a lot of people lately with the 16e, 16, 16pro (and even 16+) and not so many 16PM and wondering why? I though bigger was the way to go? Who has done smaller and why?
I am always happy with a larger phone, been Max user since Xs Max, currently on 15 Pro Max and plan on going to 17 Pro Max and I am happy the screen will be slightly bigger (6.7inch on 15 PM to 6.9inch on 17 PM).
I love fitting as much content as possible on my display and really like the feel of the large iPhones in hand, a little hefty, bigger battery and that bright glorious 120Hz Super Retina XDR OLED! :D

As per some comments above, Camera is also a big one, in some generations of iPhone the Pro Max got a slightly better Camera setup than Pro.
I think this happened in 12 Pro/Pro Max generation and again in 15 Pro/Pro Max generation with their optical zoom setups.
 
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