John Motlz on the idea Facebook might be creating a phone:

Deciding that you have to build a phone seems like what an entrenched company that feels it can no longer innovate does in order to protect its position as platforms shift.

He also argues that Google is the same way and I’m sure you can apply the same logic to Apple. Except they succeeded in innovating as mobile experiences were on the cusp of shifting. They seized the opportunity at the right time and helped make that shift happen.