I guess it doesn't signal anything. Luxury is about signaling, and an expensive phone doesn't signal anything.
What does signalling mean? Signalling means two things. The first order effect is the impact it has on your mind. When a person sees an expensive watch you might think "oh this person must be so important". The second order effect is the impact that knowing the impact it will have on other people's mind, will have on your mind. When a person sees an expensive watch they think "oh other people will think this person is so important". Interestingly in some circles the second order effect actually becomes first order (stronger). Personally I don't even notice watches but if I did I would think "oh, this will have an effect on other people".
Anyway, an expensive phone doesn't signal anything.
And if you wear an expensive watch but the rest doesn't fit, people assumes its a fake, like when you meet someone wearing a 12k$ Rolex buying cheap soap in a dollar general store.
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