Awareness of your competition is essential to success in virtually all areas of life. However, it's very easy to lose sight of your strengths in the process of mirroring the competition's. In an article posted earlier this morning, The 'Facebook Phone' Symbolizes the Problems With Facebook, Mike Schuster discusses this through the lens of Facebook's upcoming move into the smartphone/handheld device market.
Over the past few years, competition has flooded the handheld electronics market making it extremely difficult to capture enough of the pie to be worth many company's while to stay in the space. As a result, software is now the differentiator and most direct path to profitability. Facebook already holds the advantage there, at least in shear number of users. I was shocked that the organization looked at the marketplace and saw demand for yet another handheld electronic device, especially with the recently failed Twitter venture into this space highlighted in the article.
With Facebook struggling to stay cool, edgy, and innovative, is this really the best option? Would you buy a 'Facebook Phone'?