They can hash the values they want and compare them with hashed values from other phones.
edit: http://www.schneier.com/blog/archives/2009/07/homomorphic_en...
If their servers are compromised, a cracker could still get MOST of the info. Since the hashing function (and salting mechanism) lives on the phone, she could generate a rainbow table of all possible phone numbers and a set of emails for common domains.