Should we feel insecure and threatened also by the other competition? Like if or when Nokia doubles its 40 megapixel camera phones to 80 megapixel cameras, or when Jolla (the engineers who left Nokia and wanted to do their own thing) might some day have a battery life that's better than Motorola Flare in 1995?
Maybe it's time to innovate something again. Not features - but something that people desire.
Look at all the phone ads now. iPhone = what plays with your desires and imagination. So you want one because you could use it for something cool (that you don't even know yet). Whereas all the other phone ads seem more or less "Oh look, we have totally something like Siri too..." "this is a serious business phone, but it can have a bit of hip side too, so I'm so totally desiring this phone as much as I'd really want an iPhone... of course I do; I'm talking about how great this Competitor Phone is right now to you" and so on. Why do your ads so that they only make you compare your product to a competitor?
The same as car ads. "This X car is totally as cool as car Y, and costs less than car Z." Those are valid sales points. You will sell to those people who want to buy a car that fits that criteria you just used. But will it make anyone DREAM and really DESIRE to have your car? They only compare what you have or what you sell to other products. And that's not how desires work - at least after high school. "I totally want to be with Mark because he's totally as cool as Bob, as rich as Tim, and not as popular out of my reach as Brad would be". Oh yes, in high school that's how it works. But when you find what you love, and want, and desire, that's not cool any more. I don't want someone to be with me because I'm as cool as Alice, as wealthy as Kay, and pretty but not out of reach pretty as Beth would be. No; I want something because I want it, and if I'm with someone I want to be with them because they want to be with me, and not compare me to something else.
And the same comparison stuff sucks in other things too - if I just started to run and can barely do 5K without a pause, I probably shouldn't compare my running to someone who's ran already 57 marathons. Compare your life and your progress to you only, and only you can know what you really want or desire. The ads - and everything - is always playing with insecurities, wishes, and desires. Even if everyone already has a phone, or a watch, or a bicycle repair kit. To create something people desire they need to wake that desire. You can already have a phone that has a very nice camera, that you can also shoot films, read books, and use Skype and Face Time with - what else would you want your new customers to desire? A tiny disposable phone that does just phone, text, and basic photos? Something faster, smarter, and stronger? This is where the competition should happen - and not just comparing Your Product's feature A to Competitor Product's feature A.