Rather than identifying its newest assortment of smartphone accessories for the LG G5 smartphone as "add-ons," LG is branding this product collection as the 'LG G5 Friends.' This playful accessory collection includes everything from a VR headset to a 360-degree camera and a battery pack, which are all being sold in the brand's Friends Marketplace.
Beyond just having a name that will appeal to young consumers, this collection and store represents a new direction from LG. In the future, there are plans to open the store to developers who build a certified Friend or G5 module, which would create a whole new relationship between consumers and the brand with an emphasis on customization.
In order to promote the LG Friends Marketplace, a fun site has been set up by LG featuring a number of games that can be played.
Friendly Phone Accessories
Add-Ons for the LG G5 Smartphone are Branded as 'LG G5 Friends'
Trend Themes
1. Playful Smartphone Accessories - Branding smartphone accessories as 'friends' creates opportunities for companies to develop unique and playful add-ons.
2. Customizable Mobile Accessories - Opening the store to developers creates opportunities for customization in the smartphone accessory industry.
3. Growth of an Ecosystem Marketplace - The LG Friends Marketplace represents a new direction for LG and the potential for other smartphone brands to create their own ecosystem marketplaces.
Industry Implications
1. Smartphone Accessory Industry - Companies in the smartphone accessory industry can tap into the trend of branding accessories as 'friends' to attract young consumers.
2. Mobile Technology Industry - The customizable nature of smartphone accessories opens up opportunities for companies in the mobile technology industry to develop innovative add-ons.
3. E-commerce Industry - The growth of ecosystem marketplaces, like the LG Friends Marketplace, presents opportunities for companies in the e-commerce industry to create similar platforms for other brands.