LG calls out to shutterbugs

LG calls out to shutterbugs - Blue Ocean Strategy

Challenging an industry’s conventional wisdom about which buyer group to target can lead to the discovery of new blue oceans. By looking across buyer groups, companies can gain new insights into how to redesign their value curves to focus on a previously overlooked set of buyers (Blue Ocean Strategy, p. 61).

If you’ve seen pictures taken by a cameraphone, chances are, you haven’t been too impressed with the quality. Likely neither have trendsetters whose images and videos make up some of the most sought after content on the Internet. Well, it seems Blue Ocean Strategy-minded LG is set on changing this as it calls out to a this largely uncontested marketspace. A recent BusinessWeek article explains:

The new LG handset, called the "Viewty," aims to give maximum satisfaction to shutterbugs keen to share photos and videos with others. LG has formed an alliance with Google's YouTube, for instance, and with just one click, a Viewty user can upload a video recorded on the handset directly to YouTube. A Viewty user can also watch YouTube videos on the handset.

LG has already had remarkable success with its Chocolate, Shine and designer series phones. In fact, its handset division reported a profit of US$ 332 million in the second quarter of this year (against a loss of US $16 million a year earlier). LG is a high-profile Blue Ocean Strategy practitioner, with it’s ‘BLUE OCEAN 2 BY 10’ initiative aiming to be the world's number 2 mobile communications player by 2010.