Value is hard to define. In an earlier post we discussed the differences between creation and iteration and saw that both added something to the market - creation brought a whole new product to market and iteration
brought new ideas to those products. It's something that each company can bring to the market in their own way and many have different views of value even within the same industry. One cell phone maker might be so focused on call quality and thinks that if the phone doesn't have the highest call quality it doesn't matter how good it looks. Another cell phone maker might be interested solely in having the latest new technology or the highest level of design. Values are different but each are bringing something to the market that adds value to their customer, and each customer buys the product they think adds the most value to them.