For me it's always been a dumb argument. There is no good argument for not having one
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It costs maybe £2 to add a crappy DAC, amp, and headphone jack to a phone that is already ridiculously expensive.
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The waterproof argument was destroyed by the S5, S6, S7, S8, and S9.
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The iPhone 7 literally had the space inside for one!
It's also weird to me that a lot of budget phones have them. Like why would a £200 phone have a feature a £1,000+ phone doesn't?