Yep, but imo they aren’t worth it. Any smartphone between $250 to $400 provides fairly good feature for price.
If people were rational, there had been 30 % or more share of GNU / Linux in OS market. 
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after certain point you get diminishing returns. but some people who can afford to shell out the extra money do it because atleast there are some new features and better features. 200$ cloth doesnt last 10 times as long as a 20$ cloth. but 800$ phone performs atleast 40-50% better and has other improvements like camera and software updates. but its true, you can get away with 200-400$ smartphones for atleast 4 years of use and good use at that. the extra cost on top of that is optional and totally dependent on individual to individual because there are extra features that may justify it. india is lucky it has a blooming local cloth market that sells great clothes under 1500INR.
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