In my opinion, having the latest technology is not a must. Of course, having a phone is a necessity, but buying the latest version every year costs money, but it also affects the environment: when a phone is manufactured, it contributes to carbon emissions into the atmosphere.
It's difficult to realize if when we want to buy a new phone is a want or a need, that's why I consider that we should think twice before whether we really need a new phone or if we just want to be trendy.