high-fidelity telephone

Even with the advent of all this new-fangled cellphone technology, the quality of the audio hasn't gotten better (in fact, it's probably gotten worst - don't cellphones use compression algorithms?). I propose that telephones deliver high-fidelity signals, which would broaden its usefulness and pleasantness - you could play your a friend a song (in stereo!), recognize a person's voice more easily, maybe even run "phone-radio" dial-in stations. New telephones could have a variety of options for microphones - condenser, dynamic, cardioid, omni, etc. - maybe even have the option of having RCA, XLR, or TRS inputs/outputs for your own microphone or headphone preference. Standard telephones could possibly use television cable to deliver the signal, and cellphones could use lighter/better compression.