Market data from a number of sources in January revealed that most consumers are not interested in the iPhone 12 mini.
Sales data from Consumer Intelligence Research Partners (CIRP) revealed that the iPhone 12 mini represented a much lower percentage of sales than the other iPhone 12 models offered by Apple.

Combined, all new iPhone 12 models accounted for 76 percent of iPhone sales in the United States in October and November. The standard iPhone 12 was the best-selling model overall, accounting for 27 percent of those sales. Sales of the iPhone mini were just 6 percent of total iPhone 12 sales, while sales of the iPhone 12 Pro and Pro Max were closer to the iPhone 12.
According to an investment note from Morgan Stanley, Apple has now cut production of the “iPhone 12 mini” by two million units to create more capacity for the “iPhone 12 Pro.” While the move appears to have been made primarily to address unexpectedly high demand for the iPhone 12 Pro, it’s hard not to link the decision to the low sales figures for the iPhone mini.
A report by DigiTimes indicated that Apple's iPhone mini model was launched to target the US and European, but the global COVID-19 affected sales in those regions, leading to a slowdown in iPhone mini orders. The report also suggests that high demand for iPhone 12 Pro models in China has led Apple to boost its offering for the more expensive devices.
Overall, it seems that despite fan enthusiasm for a smaller iPhone in recent years, most consumers aren't interested in the iPhone mini. However, that may change over time as the prices of these devices drop.
