Logic Board Failure [iPhone 7 Plus]

How does a company so big with such a hefty price tag on products not acknowledge their issues and provide support for their users? I've had my iPhone 7 Plus for a little over a year and the logic board is on it's way out as I've ran into the issue with the grayed out speaker icon and cannot hear phones call nor can they hear me.

Apple has acknowledge it's an issue but when I visited the store yesterday they said my only option was to buy a new iPhone. It's obviously not a user caused problem. It's a manufacturing error. I can't even call apple to discuss because I don't have a working iPhone.