I actually think the phone companies are in trouble, Apple and Samsung both are starting to see a decline in sales with every new launch of the last two generations. I have a feeling its going to be a compounding trend.
I hope it is anyway, will create innovation on top of lowering of prices a few years from now.
I was referring to how easily we give away information. Not the innovation bit, but you're absolutely right I think the same. Phones are getting overloaded with questionable features and innovations that get hyped to infinity by the usual suspects on the web, but in reality, what's really so exciting here... I don't see it. So we have bent screens and full screen phones now... who cares? Does it add functionality? Does it help you in any way?
For some a phone is also a (fashion) statement and I think many of these innovations cater to exactly that. But fashion or not, repeatedly using a feature that really isn't very useful just doesn't last for many people. It's quite easy to predict what will and will not provide a real advantage in the real world... and most of it simply doesn't.
The basic components of a phone are still the vital ones and realistically all you really need: a decent camera and flashlight, access to all the required frequencies/bands, a screen that is pleasant to look at and can be read in sunlight, good battery life, smooth operation (ie any midrange SoC or better, these days) and reliable software. Beyond that, its just paying for nonsensical marketing, and solutions looking for problems with this 'notch' currently leading the race to ultimate idiocy.