Despite being a relatively modern phone, my OnePlus 6T records video using the H.264 codec rather than the newer H.265 HEVC codec. A minute of 1080p video takes up ~150MB of storage, and double that for 60fps mode or 4K. Even though the phone has a decent amount of storage (64GB) it quickly fills up if you record a lot of video. The storage savings from HEVC are pretty astounding. It typically requires 50% less bitrate (and hence storage space) to achieve the same level of quality as H.264.