It is a basic pronoun - it must refer to a noun or other nominal that the listener is aware of. There is no necessity for "it" to be visible or present. In this case "it" = "table" or "phone".
This is a
demonstrative pronoun - the noun to which it refers must be present and clearly shown to (or heard/felt/tasted, or otherwise experienced by) the listener.
You can always place a noun directly after "this", and "this" becomes a demonstrative adjective. "As a result
this vase/table/phone was damaged."
You can never place a noun directly after "it" because it cannot be an adjective. "As a result,
it vase/table/phone was badly damaged."
