The wait & see attitudes of consumers is a bad trend for handset makers but this can change by innovating in the business models especially in developing economies where opportunities still exist. These are also economies where new phone buy cycles are farther apart than western economies. There is no easy solution for this predicament!
Because Apple is typically a follower on features, there shouldn't be any surprise under the sun. In fact, I would be interested at how far behind Apple's iphone5 is versus those of Samsung / Nokia / HTC.
Since iPhone 3, the market expectation of new iPhone has always existed. Yet, the sales of iPhone has never been hurt much. I wonder why it happens now. Would it be because of the change of form factor? Or sometimes else?
On the other hands, what's more interesting is the overall sales of mobile phone was reduced. It is difficult for me to believe the market has come to saturation. So, is the blurriness of different mobile devices clouding the mobile phone sales?