I believe this is a clone of the rode SC7, but haven't verified that.
The way I understand it, the signal in the tip and the ring parts of the trs end (left and right of a stereo audio signal) get mixed and connect with the sleeve part of the trrs end. That's what smartphones use as external mic input. You'll be able to use this for voice notes, videos and (I assume but haven't tried yet) live streams.
Sometimes the phone doesn't detect it at first but after a couple attempts it works. Try switching the bluetooth on and off.
The coiling of the cable is a bit meh, not the most flexible.