Induction would happen.
Older PCS cellphones operated on a frequency and power level that if the phone was placed near enough to an analog audio connection, typically for speakers, somewhere before amplification happened, and the audio line was not shielded, it would induce enough current in the line to come through the speakers as a repetitive set of tones.
Usually, this was a precursor to a data transfer, either to initiate a call or transfer a text message.
This was eliminated with two main things. First, cellphone frequencies and power levels have been optimized a lot, also the frequencies used for most cellular communication have changed. All these changes may mitigate the effect. The second thing is that nearly no unemployed analog audio is moved over distance. Most devices use either digital signalling or similar for all their communication. Bluetooth audio devices are notable here. Bluetooth headphones, "true wireless" earbuds (airpod style), and Bluetooth speakers, make up the majority of consumer audio. For wired audio, it's usually usb, which uses digital signalling all the way into the device, where the DAC/amp is directly wired together and then pushed to the speaker drivers, whether those are for loud speakers or headphones. The last bastion of analog was headphones, and since headphone jacks are out of fashion on cellphones, almost everything uses digital audio transmission.
Even for TVs and such, HDMI uses digital signalling for audio. Analog audio is basically non-existent for anything outside of home theatre applications, where the analog signals are entirely post amplifier, out to speakers....
Even if cellphones would induce noise on analog lines in the same way they used to, there's no analog lines for the signal to be induced onto that would create a noise in the same way.
I only know all this because I work in tech with a specialty in wireless, and I hold an amateur radio operator license, which requires that you know about these things, and I've self studied electrical and magnetic interactions as an extension of all the EM transmission knowledge that I needed to have. The physics are quite straight forward to at least grasp a basic understanding of the mechanism. By no means do I consider myself an expert, physicist, nor scientist. I just know enough to understand.