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Apple calls 128GB 'lots of storage' in new iPhone 15 ad | AppleInsider
(appleinsider.com)
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this post was submitted on 18 Mar 2024
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One hour of 360 video is roughly 60GB. Process that video and export it and you get a lot of data as well. I would not call it being super heavy on video to have one hour of source material on your phone, which you could not do right now.
360 photos are roughly 150MB each.
Storage is cheap, but sold at a very high mark-up.