The previous occasion in which a single manufacturer got it so much more right so much sooner than the competition was when Nokia got the user interface right, and SMS in particular at a time when the competition (Motorola and Eriksson at the time) just weren't there yet. Nokia remains the worlds largest mobile phone manufacturer to this day because of that lead they built up. Certainly for a time in the early 2000s, most of my friends took the view that they wouldn't buy any phone that wasn't a Nokia.
Companies pinned their hopes on WAP and then MMS to be the next big thing, but on the small monochrome screens of the early WAP phones (eg Nokia 7110) and the really low resolution colour screens of the first MMS able phones (recall the Sony Eriksson T68i with the clip on camera) meant people found them to be too hard to use, and both kind of flopped.
While there were a number of phones that did get half way decent browsers to work, the iPhone was the first one where they got the mobile internet experience right (a combination of a pretty good browser, a full size screen and apps for specific tasks). In the same way that in the period 1998-2000 Motorola and Eriksson were playing catchup to Nokia, so in the period 2007-2009 everyone was trying to get something to match the iPhone.
So, I think the next thing to happen will be that in about 2 years' time the phone companies will start trying to find the next big thing, and produce a whole bunch of new features that nobody really likes, until the next big thing comes along. It's anyone's guess what that killer app will be.
If we look at the previous big steps, namely SMS and internet apps, they were both, in essence, bringing functionality normally associated with the home into your pocket. SMS being analogous to email, and the iPhone experience analogous to a proper computer internet connection. Now the trouble is, there isn't really anything we can do at home or in the office that wen can't do with our phones. Now if I thought I knew what that big idea would be, I'd be off to the patent office rather than posting it online.