Well the whole point of the PDF format is that when you create a file it retains the fidelity of the original. In other words it should look the same as the original file no matter where you view it. It sounds like you either want to change what it looks like so that it is more suitable for viewing on the small screen of a smartphone or that it is changing from the original look when viewed on the smartphone to the point that it is difficult to view. Please clarify.
Using your analogy of a movie file note that the movie is not changed in any way from the original it is merely scaled down in size and therefore the resulting file is able to be viewed in the smaller memory footprint allowed by smartphones. It also doesn't take up as much space within the limited storage space of a smartphone. For example, running a movie through Handbrake doesn't turn a 16:9 movie into a 4:3 movie that's been pan-and-scanned. Yes there are fewer pixels making up the image and looking at it at its original size is different, the resulting fewer pixels are magnified, but the movie is essentially the same.
Going back to my original post about optimization of PDF files. Using optimization to create a PDF file better suited for the confines of the smartphone means using higher compression to make the file smaller at the expense of image quality. The formatting itself should remain the same.
Viewing PDF files on the small screen of a smartphone usually means having to zoom in to the point that the text is readable but it also means that you have to scroll side-to-side to read wide passages of text in addition to scrolling down.
If your goal is to change the formatting/look of the PDF to make it more suitable for viewing on the small screen of a smartphone, to avoid the zoom and scrolling, you need to do that before turning it into a PDF. The process of converting to a PDF will not do that for you no matter which conversion software you use.
My experience with viewing PDF files on my iPhone 4 is that the fidelity of the original files is maintained as it should be. It looks exactly like it does on my laptop and desktop. That being said I do have to zoom in and scroll around to read the text and view any images.