In addition, the market is saturated because of inflation of the prices, not necessarily just because the features aren’t exciting. Consumers have come to the realization they don’t need to upgrade their phones on an annual basis anymore, not when they accomplish everything they need it to to begin with. And then of course factor in the battery replacement program by Apple, that also has an effect on the growth of the iPhone.
I think in general, when you see inflated prices of smart phones as they are today, that takes away *part* of the excitement, which I also think is another considerable factor.