I actually think they’re carving out an odd model line with their small iPhones. They’ve gone back on the larger is better meme twice to make the first SE and then the Mini. I suspect we’ll get another mini model after enough demand has backfilled enough. I’m guessing it really is a size preference for certain people and budget for others.

The model line of “cheap enough for the people who absolutely have to wait until price drops to their level to upgrade.” And also whose numbers swell just enough every 3-5 years.