The smartphone market is being permeated with new devices like the iPhone 8 and iPhone X that have premium features and an equally premium price point, but new options like the Nokia 2 are being released to offer consumers an alternative.
The device is positioned as an entry level smartphone with a €99 price point that will offer users an HD display, a Qualcomm Snapdragon 212 processor, 1GB of RAM and 8GB of storage with a microSD slot for upgrading. The smartphone also features a 5MP front-facing camera along with an 8MP rear camera, while Google Assistant comes built in.
The Nokia 2 runs Android Nougat and identifies the need for more affordable technology as consumers seek ways to stay connected that won't require them to take out a loan to do so.
Why This Trend Is Growing
- Affordable Smartphones
- Disruptive innovation opportunity: Develop budget-friendly smartphones with essential features to cater to cost-conscious consumers.
- Entry Level Tech
- Disruptive innovation opportunity: Create entry level tech devices with decent specs to provide affordable options for consumers.
- Alternative Smartphone Solutions
- Disruptive innovation opportunity: Introduce alternative smartphone solutions that offer competitive features at lower price points.
Industries Being Reshaped
- Smartphone Manufacturing
- Disruptive innovation opportunity: Explore ways to manufacture budget-friendly smartphones without compromising quality.
- Consumer Electronics
- Disruptive innovation opportunity: Innovate and provide cost-effective consumer electronics solutions that cater to the entry-level market.
- Mobile Technology
- Disruptive innovation opportunity: Develop and improve mobile technology platforms that can support affordable smartphones with decent performance.
