The Impatience of Companies
The smartphone market is dominated by companies that take their time to build good phones, rather than attempting to create something innovative and crazy. This approach is easier said than done, especially for a new company, and even if they are able to do it, it could take years before they receive good media coverage. As a result, many companies opt to take the alternative route and create something that stands out from the crowd. This could be a holographic display, a fully integrated gaming controller, or an 18000 milliamp hour battery.
The Appeal of the Innovative
The appeal of the innovative is undeniable, and it is easy to see why consumers and media alike are drawn to these devices. A company can quickly shoot to the top of the news by being different, and this is evidenced by the massive success of the Energize smartphone, which has nearly 5 million views.
The Downside of the Innovative
However, there is a downside to this approach. The biggest issue is that these devices often fail to deliver on their promises. Companies may be tempted to cut corners in order to get the device out on the market as quickly as possible, resulting in a product that is not up to scratch. Furthermore, the lack of long-term reviews means that consumers are unable to make an informed decision about the device, and this can lead to disappointment.
The Solution
The solution to this problem is for companies to take their time and focus on creating a well-rounded device. This means that they should take the time to ensure that the device is of high quality, and that it is able to deliver on its promises. Furthermore, companies should ensure that there are long-term reviews available for consumers to read, so that they can make an informed decision about the device. By taking this approach, companies can ensure that their devices are successful in the long-term.
The Risk of Innovation
Innovative smartphones are inherently risky, as they are attempting to do something that no one else has done before. This means that there is a greater chance of unforeseen issues occurring, and the phone may not work as intended. This is in contrast to taking last year’s model and improving upon it, which is a much safer option.
The Cost of Mistakes
The cost of buying a smartphone is far greater than the cost of a meal, and most people cannot afford to make a mistake. An average consumer will buy one phone and it must last them for at least two years. This means that the phone will be a central part of their life, and any mistakes made in the purchase could be costly.
The Fear of the Unknown
When it comes to buying a smartphone, people are often hesitant to experiment. This is because they fear the unknown, and are not willing to take a risk on an innovative phone. They would rather stick with a tried and tested model, as they know that it will work as intended.
The Asus Zenfone 6
The Asus Zenfone 6 is a perfect example of an innovative smartphone that failed to gain traction. Despite its innovative features, it only achieved 15 backers on IndieGoGo, which is far less than the company’s goal. This shows that, whilst people may talk about and share innovative phones, they are not willing to buy them.
Risk Aversion
The concept of risk aversion is a major factor in why the most innovative smartphones fail. Consumers are unwilling to take a chance on a product that may not be reliable or provide the features they desire. They are more likely to opt for a phone that has been proven to be reliable and offers the features they need. This is why the most popular phones are often the ones that have been around for a while and have a good track record.
Innovation vs Reliability
The challenge for phone companies is to find the right balance between innovation and reliability. Many companies get carried away with the idea of creating something new and exciting, but forget that consumers are more concerned with the practical aspects of a phone. Questions like whether it will get updates, be easy to repair, and be durable are all important considerations.
The Trade-Off
This trade-off between innovation and reliability is why many consumers opt for the most well-rounded phones. They are willing to sacrifice a more exciting experience for peace of mind. This is why the Samsung Galaxy S10 5G is so popular, even though there are faster and better-equipped phones on the market.
Risk-Taking Companies
Companies that are willing to take risks and create innovative phones are often either new to the smartphone market or produce their products under a sub-brand. This allows them to experiment without risking their main brand’s reputation. However, even with this safety net, many of these phones still fail to gain traction due to their lack of reliability.
Instead, oneplus focused on making a great all round phone and making sure the price was right.
The Risk of Experimentation
Experimentation is a risky endeavor for any company, especially when it comes to the release of a new smartphone. The stakes are high, as the success or failure of a device can have a major impact on a company’s reputation and bottom line. When it comes to the most innovative smartphones, the risk is even greater. Companies must weigh the potential rewards of creating a revolutionary device against the potential losses of releasing a product that fails to meet consumer expectations.
The Problem of Branding
When it comes to the most innovative smartphones, companies must also consider the impact that the device will have on their brand. If a company releases a revolutionary device that fails to meet consumer expectations, it can damage the brand’s reputation and lead to a decrease in sales of other products. To mitigate this risk, companies often choose to release their most innovative devices under a different brand name, such as a sub-brand, in order to protect their core brand.
The Cycle of Risk Aversion
This strategy of risk aversion can create a vicious cycle. Companies are reluctant to invest heavily in promoting their most innovative devices, as they are unsure of the outcome. As a result, consumers are less likely to purchase these devices, as they are unfamiliar with the brand or lack trust in the product. This means that the most innovative smartphones are never given a chance to succeed, as they are not given the necessary support to reach a wide audience.
The Success of Oneplus
Oneplus is an example of a company that was able to enter the smartphone market successfully. Despite being a relatively unknown brand, Oneplus was able to gain attention by offering a great all-round device at an attractive price. Rather than focusing on one killer feature, Oneplus was able to create a device that appealed to a wide range of consumers. This strategy allowed Oneplus to gain a foothold in the market and eventually become a major player in the smartphone industry.
They dont really have a place in the market.
Innovation and Smartphones
Innovation is a key factor in the success of any product, and smartphones are no exception. The introduction of new features and technologies has allowed manufacturers to differentiate their products from the competition and create a unique selling point. However, the most innovative smartphones often fail to make an impact in the market, as consumers are not always willing to pay for the latest and greatest features.
OnePlus One
The OnePlus One is a prime example of an innovative smartphone that failed to make an impact. Despite offering flagship-level specs at a fraction of the cost of its competitors, the OnePlus One failed to capture the attention of the mainstream market. This was due to a combination of poor marketing and a lack of understanding of the product’s unique features.
Gimmicks
The failure of the OnePlus One highlights the fact that gimmicks and flashy features are not enough to make a product successful. Consumers are more likely to be drawn to products that offer a combination of features and value for money. This means that manufacturers must focus on creating products that offer a balance of features and affordability, rather than relying on gimmicks to drive sales.
Useless Innovation
The competitive nature of the smartphone market also means that many of the most innovative features are quickly rendered obsolete. This is because manufacturers are constantly striving to outdo each other, resulting in a rapid cycle of innovation and obsolescence. As such, it is important for manufacturers to focus on creating products that offer a balance of features and value, rather than relying on gimmicks and flashy features.
Innovative smartphones are risky, expensive, and often fail to gain traction with consumers. People are hesitant to experiment with new phones, as they fear the unknown and cannot afford to make a mistake. The Asus Zenfone 6 is a perfect example of an innovative phone that failed to gain traction, despite its innovative features.
The success or failure of a smartphone can have a major impact on a company’s reputation and bottom line. Companies must weigh the potential rewards of creating a revolutionary device against the potential losses of releasing a product that fails to meet consumer expectations. To mitigate this risk, companies often choose to release their most innovative devices under a different brand name, such as a sub-brand. This strategy of risk aversion can create a vicious cycle, as the most innovative smartphones are not given the necessary support to reach a wide audience. Oneplus is an example of a company that was able to enter the smartphone market successfully by offering a great all-round device at an attractive price.
It is clear that innovation is an important factor in the success of any product, but it is not enough to guarantee success. Manufacturers must focus on creating products that offer a balance of features and affordability, rather than relying on gimmicks to drive sales. Furthermore, the competitive nature of the smartphone market means that many of the most innovative features are quickly rendered obsolete, so manufacturers must focus on creating products that offer a combination of features and value for money.
