Late to the party based on what timeframe? 2, 3, 5 years from now it won't look that way.
There were mp3 players before the iPod (I had one! it sucked) and smartphones before the iPhone (I had one! it sucked as well).
Early-adopter products exist in a niche where their shortcomings are accepted and embraced because people like their concept. But we can't mistake that for meeting the high standards of the broader consumer marketplace.
Remember when the iPhone was released? There were other smartphones like the Treo and BlackBerry, but none worked the way the iPhone did. That's what defining a market is about - entering where there may be 'competition' but as soon as you release, nothing competes.
There were mp3 players before the iPod (I had one! it sucked) and smartphones before the iPhone (I had one! it sucked as well).
Early-adopter products exist in a niche where their shortcomings are accepted and embraced because people like their concept. But we can't mistake that for meeting the high standards of the broader consumer marketplace.
Remember when the iPhone was released? There were other smartphones like the Treo and BlackBerry, but none worked the way the iPhone did. That's what defining a market is about - entering where there may be 'competition' but as soon as you release, nothing competes.