They made their phone their status symbol; in fact, I know some of my friends keep buying the latest phones, not knowing all of its features; they buy the latest cellphone just to brag that they are using the latest model, These people are insecure, and they depend their happiness and confidence on the latest models of phones to which they are so attached.
Symbol or an item of a status. For people who are rich and can afford, not having a latest smartphone, will show that there might be something wrong with their business or with them. People with old item will look weird, even though old item does the same thing as the latest. For example the founder of Ikea drives with old volvo, when with his $80 billions, he can have any car he wants. Many say that his is weird. People can use old smartphones, most of them easy will do calls, receive and send messages and can run youtube and browser apps, but people will think that they are weird. Imo latest smartphones arent necessary, but they are used to show status of a person.