But what if you worked at a minimum wage job and had two kids? Would you pay a month's income for a new phone?
Today here is southern California where I live there are two class: (1) those who can afford to buy million dollar houses. (That is the starting price here.) and (2) those who work at minimum wage. You can bet a lot that those in #2 are not buying a new $1,000 phone every year. Fortunately, those who do buy phones every year usually trade in or sell there old phones and there eventuly get resold on the used or refurb market
It is the same with cars. MOST car sales are used cars. Every car is sold as new only once, then it might be resold as used 2 or 3 times. Hence, most people buy used cars. I think it is the same with phones. It is only new the first time it is sold.
It is good that there are rich people, otherwise cars would have to be designed to a selling price that minimum wage workers can afford. Same with phones. What if no onw could afford to pay more then $250 for a phone? Then, Apple would make $250 phones.