I would say that for a $20k first prize, 10k second prize and 40 more peeps taking 1k home plus a phone, thats not bad. There are VERY FEW competitions that give out that amount of cash, and to that amount of people. Im not working in the cell phone industry, but if I win 20k, hell thats more than enough for me to give them the IP they want…its just a few sketches anyways.
Secondly, I doubt there’s gonna be a huge technological revolution in any of the entries and stuff the LG crew hasnt already pondered…its mostly designers entering their sketches. I doubt any of the entries will contain technology based on secret research and valuable IP.
Condemn contests that screw the designer. This one at least has a pretty decent payout in my opinion.