Easily. My mid-range phone (OnePlus 5) is 4.5 years old, phones are powerful and have been for a long time.

My iPhone 6s runs Teams just fine. Granted notifications continue to display on my phone, even when I'm on the desktop or using Teams directly - but nonetheless it still works when I need it to (on iOS, can't say the same for the Android fellows rn)

Fwiw my galaxy note 8 runs it perfectly. I think my iPhone xr is also more than 2 years and no issues.

I'm not saying I love the tool, but phone performance itself is not the reason for me. YMMV.