Once upon a time the iPhone was cutting edge. It was a product so far above everything else that it single-handedly created the smartphone market. The fifth incarnation of that product, however, is completely unimpressive. It adds only what is necessary to keep customers from jumping ship, and no more. They are a full year behind their competitors in adding LTE support and even farther behind when it comes to large screen sizes. Heck, even after the upgrade they're not up to par on that second point. Their screen density is nice, but a higher resolution is far more useful to the average consumer and the iPhone 5 falls well short of today's 1280 x 720 standard. Also of note are such glaring omissions as NFC, physical video out of any sort, etc. And that's to say nothing of the typical Apple annoyances like non-standard connectors, super high prices and so on.

In short, Apple is still coasting, making money on the innovation of years past without contributing anything new to the marketplace. There's nothing wrong with this, but they're starting to get noticeably behind everyone else. I'm not saying they don't know what they're doing, but it seems to me like they're long overdue for something new. They're the biggest, richest company in the world, with resources and contracts that no one else can match, yet they're being considerably outclassed by lesser rivals.

With all of that said, I should point out that I work as an Android developer these days, and my opinions are pretty biased.