Originally Posted by
Ken Rockwell
Bigger pixels collect more light (photons). More photons means more clean image compared to the relatively constant amount of electrons making noise. (Yes, I'm simplifying, but it's why bigger sensors are quieter and cleaner.)
Fatter pixels catch more light, so the larger camera doesn't have to amplify them so much for the same ISO sensitivity. This means that even though we wind up with the same exposure, noise and crud aren't amplified as much, leaving us with a much cleaner images without having to cheat with wimpy noise reduction filtration. There is simply less noise.