Almost ten years after the renaissance of the popular perovskite‐type semiconductors based on lead salts with the general formula AMX3 (A=organic or inorganic cation; M=divalent metal; X=halide), many facets of photophysics continue to puzzle researchers. In this Minireview, light is shed on the low mobilities of charge carriers in lead halide perovskites with special focus on the lattice properties at non‐zero temperature. The polar and soft lattice leads to pronounced electron‐phonon coupling, limiting carrier mobility and retarding recombination. We propose that the proper picture of excited charge carriers at temperature ranges that are relevant for device operations is that of a polaron, with Fröhlich coupling constants between 1<α<3. Under the aspect of light‐emitting diode application, APbX3 perovskite show moderate second order (bimolecular) recombination rates and high third‐order (Auger) rate constants. It has become apparent that this is a direct consequence of the anisotropic polar A‐site cation in organic–inorganic hybrid perovskites and might be alleviated by replacing the organic moiety with an isotropic cation.