Smartphone manufacturers find themselves in one of the most competitive industries worldwide, while also needing to fulfill their environmental and social responsibilities. These challenges contribute to growing concerns about e-waste, carbon emissions, and ethical sourcing, underscoring the need for sustainable business models. This study evaluates the smartphone industry’s progress towards sustainability, amidst growing claims of sustainable practices by assessing the performance of three major companies’ smartphones with a Comparative Sustainability Analysis. The cumulative carbon emissions associated with each phase of the Life Cycle Assessment (LCA) for all the smartphones considered, are calculated to understand their environmental impact across these phases which enables the identification and prioritization of areas of potential improvement. The research adopts a value chain approach, also highlighting the gaps in the existing method of reporting. The study assesses the sustainability potential of smartphones and presents approaches for sustainability enhancements. It emphasizes that businesses should have a vision of incorporating sustainability in each primary activity in the value creation process.