Early smartphones had less power than a toaster

The original iPhone (2007) had a processor running at 620 MHz and 128 MB of RAM — less computing power than many electronic greeting cards today. A modern toaster's embedded controller outperforms it in raw processing speed. Within 15 years, the iPhone 15 Pro's chip surpassed the performance of a 2019 MacBook Pro, showing perhaps the most dramatic performance curve in engineering history.

Source: Anandtech iPhone Performance Benchmarks (2007, 2023); Apple A17 Pro Technical Overview (2023)