'Pepsi' recently confirmed that it is producing a mid-range smartphone that will be exclusively sold in China. Although there are a number of smartphones on the market, some Millennial consumers face budget constraints that prevent them from purchasing some of the more expensive models. Pepsi is hoping to attract Millennials by offering a smartphone at a lower price than its competitors.
Pepsi plans to release an Android phone called the 'Pepsi P1.' Although Pepsi is not manufacturing the phone itself, the device will be branded with the Pepsi logo. The phone will feature a 1080p screen, 2GB of RAM, a 3,000 mAh battery and a 13-megapixel camera. Despite the high-tech features, the phone will only cost consumers $200. The phone will only be available in China because of the popularity of Android devices in the country.
Although Pepsi seems like an unlikely brand to begin producing mobile products, the company has consistently demonstrated its ability to remain on the cutting-edge of consumer interaction. As a result, the mid-range smartphone will likely appeal to consumers who already identify with the brand.
Budget-Friendly Mobile Phones
This Mid-Range Smartphone is Designed to Appeal to Millennials
Trend Themes
1. Budget-friendly Smartphones - The rise of budget-friendly smartphones presents an opportunity for companies to target price-conscious consumers with affordable yet high-tech devices.
2. Branded Mobile Devices - Branding smartphones with well-established consumer brands offers an innovative approach to attract loyal customers and differentiate from competitors.
3. Regional Smartphone Markets - Exploring the demand for smartphones in specific regions can help companies identify untapped markets and develop localized products to cater to specific consumer needs.
Industry Implications
1. Consumer Electronics - Disruptive innovation opportunities in the consumer electronics industry lie in developing cost-effective smartphones without sacrificing key features and performance.
2. Food and Beverage - Food and beverage companies can explore opportunities in the mobile devices industry by utilizing their brand recognition to enter the smartphone market and target a specific consumer segment.
3. Technology and Telecommunications - The technology and telecommunications industry can leverage regional smartphone markets to develop localized strategies and partnerships that cater to unique consumer preferences.