A secure phone or more importantly a secure phone OS would not allow an app to collect information like this. The exact geo-location is not something an app like this needs. A "find someone with in 10 kms" is probably good enough, but "allow me to be found within less than a meter" is just waiting for abuse. If it is a 911/999 app, then sure, let them have my exact location. However, the center of the "within 10 km" needs to be significantly offset from my position, otherwise, it's kinda pointless.
That’s just a tiny example of the data that can be abused. In this instance, the existence of a profile at all is abusable data, and there’s not much of a way around that other than being able to trust the application.
But when you install applications on your phone which mishandle your data or even sell it -- it doesn't matter how secure your phone is.
The problem is the business culture and legal environment of software development. It's profitable and often legal to abuse data.