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this post was submitted on 20 Oct 2023
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that's very much on the point.
As for the reasons — from what I've observed — it's more of a follow culture. they saw someone influencial(in their eyes) doing this, so they now have to ape it. I doubt if there is any more thought process going on here.
I have friends who have bought(or actually, have been bought into) these phones on monthly installments.