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The Smartphone Industry Analysis 2012 - Essay Example
Pages 4 (1004 words)
The smartphone industry consists of the all firms that manufacture smartphones and sell it to the entire world. Smartphone is defined as a mobile electronic device which runs an advanced operating system and can also install new applications and is always connected to the internet which results in a variety of functions available to the consumer…
(Cromar, 2010) The smartphone market is characterized by perpetual innovation and constant new product development. No one company has considerable market share so all the companies are constantly evolving technology in order to remain competitive and not to be driven out. (Brownlow, 2012) Smartphones and tablets have very short product life-cycle due to constant improvement in technology, aggressive pricing and rapid imitation. The barriers to entry in this industry are very high due to patents, high start-up cost, regulations and economies of scale. In the smartphone industry there are many drivers which deliver success and in order to stay in business and maximize value for the company it is important to know what factors guide the company towards excellence. The smartphone industry is very fleeting, therefore companies need to be on their feet and constant research and development is needed to come up with the most innovative features that would appeal to consumers. This should be in line with the market demand, but innovation is a key competitive force in the smart phone industry. Secondly, the product needs to be reliable and should deliver on its promises. ...
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