Yawn... Since when is putting a slightly bigger screen, an slightly faster chip, or a modestly improved camera into a smartphone producing a new product?
The market is waiting for the next Gamechanger technology and it ain't going to be an incrementally improved smartphone. Whether Apple Samsung, Microsoft, Sony, Nokia, HP, or some other company pulls it off, is still up for grabs.
Apple's commitment is to the *best* products that make money. Samsung is releasing low or no margin products, and that's great ... for them. Apple views the market from a different perspective and their metric differs GREATLY. They want to ensure a certain level of "stickiness" to product launches. They'll release the larger iPhone and the lower cost version when they feel the time is right. My guess is they plan to do so at a point of almost full saturation, and that point is almost here.
Apple was "dead" before the iPod, then again before the iPhone, then again before the iPad, and now again before ... (insert new product here) In short, my money is on the company and its team of engineers that have a history of revolutionizing market categories.