Phones as status symbol

As a gadget nerd I found very great article over at the Economist.com. This article brings up some interesting points about how youth culture is now using mobile phones instead of cars to define themselves. Less pollution, less traffic…
You find people who customize their phones by buying cool covers and uploading new software. Some are even modding their mobiles by themselves.
Funny how it goes, first it was a horse then came gold-watch and then cars… Now its a mobile. What next? a space shuttle or personal teleporter?