It's true, I don't really know enough to tell how recent the phone is (I'm an Android user and don't even know that market very well). I do think people spend "more than they can afford" on their phones. Compared to past generations that spent more than they could afford on cars, say, it's a relatively cheap thing to splurge on. And if they're going to splurge on one thing, lots of people will pick their phone these days.