All consumer products go through a multiple of changes as they become the standard for consumers. For those who are older, you might remember VHS and Betamax tapes for the VCR, although no one makes them anymore we have all gone to discs, however 2 companies were investing in each technology expecting their technology to dominate. This is natural element in consumer goods, what will become the industry standard?
Most people in the world will never own a non mobile phone so they are interested in the phone clarity, the minutes you can talk and text, the videos and pictures you can take, etc. The least concern is to charge the phone. This is why although it takes time, standardization is coming to the mobile devices.
In an article from Reuters, the European Union is the third largest consumer market after the US and China, the European Commission has been dealing with complaints about charging Apple and Android phones – they use different chargers. It looks the safe but the connector is different. The EU wanted the standardization to happen and pass a law by 2024, all mobiles have to have the same connector. Apple will have to make changes to the charging.
iPhones are charged from a Lightning cable while Android based devices use a USB-C connectors, by 2024 all connectors sold in Europe will be USB Type C.
Linking to dividend paying stocks, all consumer goods eventually move to a standardization for the ease of use for the consumer. Picking the correct technology or lobbying the government to ensure the company picked the correct technology is a function for the company. Companies lobby for a number of reasons, trying to ensure the company is the standard can help the company save money in the future.
There are more questions than answers, till the next time – to raising questions.