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I recently acquired a Pixel XL 128 as my primary phone. It's a $1000 phone. I have traveled everywhere with my old cell phones which were worth at most $300-500, still expensive but not as expensive as this one.
Although thank goodness i've never had an issue with muggings etc. I was just wondering that it's always a possibility given how much we use our phones everywhere and in some of the developing countries I travel to a phone is worth more than the monthly salary, sometimes even a few months of salary. In some places i've definitely been a bit nervous about taking out my cell for fear of attracting attention.
Hiding the phone outdoors is not really viable when you want to check maps/directions and take a photo etc. which got me thinking, is it really good to have a second cheap phone, perhaps a $100-150 backup one when traveling in somewhat dodgier areas? I use Android so there are a plethora of options. Of course I would not use this strategy in a developed country like Germany but in developing countries.