Ken Segall succinctly describes how Apple approaches new product categories and why waiting is often a better option than rushing to market:

Fortunately, it all becomes clear in hindsight.

Now we know there was a ton of work going on at Apple during The Period Of Great Whining. Possibly more than at any time in Apple’s history. Now we have new iPhones, Apple Pay and Apple Watch.

To me, this just says that Apple is doing a very good job of being Apple. Its mission is to create products that people can fall in love with. There is not now, nor has there ever been, a timetable for such things.