Hi !
As you already know that the Phone 2 has two display colour profiles, namely, Alive and Standard. According to DXOMark tests, Alive is Display P3 and the Standard is sRGB colour space (while GSMArena mentioned the Alive mode to be DCI-P3). Nothing as a tech company did not bother to clarify it. Both modes present a good level of accuracy for their respective contents. Though the Standard mode is more accurate that the Alive mode, it is hardly noticeable.
Now, the question here is that how much content that we see on our phones is actually encoded in Display P3 (since Alive is the default setting in Phone 2) ? The wallpaper on home screen - can’t really say about the pre-installed ones but most wallpapers downloaded or otherwise are in sRGB. The app icons - sRGB. The graphics in apps - sRGB. Photos clicked by camera - sRGB (except ultra HDR). All of the downloaded images - sRGB. The graphics in websites - sRGB. Most of the videos - probably rec709, which is closer to sRGB than P3. Most of the browsers don’t handle Display P3. That’s why the Alive mode makes almost everything look a bit oversaturated.
Are you watching your content in true colours or oversaturated false colours? Does that mean you are not taking advantage of the colour accuracy of the display used in your phone?
What are your views regarding this - mention in the comments. Is colour accuracy more important or the vibrant look, however incorrect it may be?
