Why string pool concept has been introduced in string ?

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Q1. Why string pool concept has been introduced in string ?

Ans. Memory Sharing and Optimal memory utilization.

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What will be the output of following code

Integer x = 1;
Integer y = 2;
System.out.println(x == y);

What if you change 1 to "1" and Integer to String?

What will be result of following code and why

Integer int1 = 1;
Integer int2 = 1;
String str1 = new String("str");
String str2 = new String("str");
String str3 = "str";
String str4 = "str";

System.out.println(int1 == int2);
System.out.println(str1 == str2);
System.out.println(str3 == str4);

What is the purpose of String Pool ? Don't you think it's a performance overhead to have unnecessary check for string in string pool ?