"Dude, have you seen Steve's new iPod, iPhone, and iBook?" "Yea, but don't invite him out to the bartonight cuz I heard he's iBroke and he'll just mooch drinks off us."
Munchausen iProxy is a condition where a device owner creates the appearance of problems in a device, typically their own phone. This may include injuring the device (dropping it into a body of water, cracking its screen, etc.) or otherwise altering its operation. They then present the device as being non-functional in the hope of obtaining a newer and better device.
I heard that Karen "dropped her phone in the toilet" the other day, but she was raving about the latest iPhone last week; this seems like a clear case of Munchausen iProxy.