This is mad. Almost a phone for every person on the planet every two years and a good chunk of those people don't even have phones.
People now don't see any problem with spending €700 on a phone, even 1000+. In the early 2000's if you spend more than a few on a phone it was seen as the height of excess and even then the phone could be expected to easily last 5 or 6 years. Then Apple came in with their non-user-replaceable batteries and quality nosedived. My own phone (a cheap nokia smartphone) is on its last legs after only about a year.