FWIW I got a Huawei phone (Honor 10 Lite) for under 200 EUR, but much cheaper phones than that are available.
Edit: To be clear this is not to avoid Chinese surveillance. That's unavoidable whatever you do because China is a police state. It's to separate out that surveillance from my contacts and my regular life at home. (I also think it's at least arguable that the Chinese government has a duty to look closely at what foreigners are up to. It's not an argument that I agree with myself very much because it infringes freedom while also making the wrong trade-offs, but given we live in a world of nation states it follows logically from that.)
Malware in the baseband firmware could theoretically intercept or disrupt radio traffic, or migrate from the firmware to the phone via other exploits in the OS to gain even more control. In essence, it's a particularly nasty thing that surveillance states would definitely use to their advantage.
This is why 'burner' devices should be exactly that - destroyed after use, because you simply cannot trust them after they've been anywhere near an invasive surveillance setting.