Monthly payments exist and some people use them to pay for a flagship phone but most people understand this is just diguised credit and they'd rather have a cheaper subscription.

Also I've seen people do that drop/lose/get their expensive phone stolen and then pay for almost 2 years for a device they don't use. The replacement is usually a lot cheaper and they realize their life is not that different with a cheaper smartphone and don't repeat the experience unless they are social status show offs.