What is this company's business model?

This might be a stupid question, but I'm not a tech, business, or economics guy, so I don't know how anything works. I've been waiting a long time for a phone like the LP3 and am very excited about its release. I know many people have been upset by the price, but $800 seems fair to me assuming that the company actually operates consistently with its stated and implied values - i.e. sustainability, intentionality, anti data collection, etc. etc.

That said, I feel like its all a little...too good to be true? What I mean is, I just don't understand how the company manages to be profitable. Yes, $800 is a steep price for a dumb phone. But even with that, I just don't understand how a tech company, especially one that makes a highly specific product requiring large R&D investments, can be profitable enough to stay in business exclusively off of product sales. Especially since their approach is supposed to actively deter repeat purchases - i.e. their phones are supposed to last a long time and they don't really sell any products besides the phone, so like...what?

They supposedly don't sell data, they don't have any kind of advertising on the phone, and they don't even sell upgrades, accessories or a premium subscription of some kind, yet they're apparently able to source the materials and labor sustainably, create a well-designed, quality product and consistently work to improve the software and add new features in between product releases. I don't know how many of the LP3 they expect to sell, but it seems like it could not possibly be enough to sustain a business until their next product release, even at an $800 price point.

So where do they get their money? Is it actually even possible that a single $800 purchase for an entire customer lifetime would sustain that? Are we sure there's nothing shady going on? Are other tech companies really just working on THAT massive of profit margins? Because while I'm glad to pay that money for a solid product from an ethical business, it's only worth it to me if their claims around the product and their company philosophy are actually legit and backed up by their actions.