- - - - - That's not creating a new business out of nothing, nor is it being particularly visionary. It's a natural improvement on an existing market segment. - - - - -
One has to be careful about trusting accounts written later, whether written by the winners or the losers. But multiple sources have reported that the response to the introductory demo of the iPhone at the highest levels of both Nokia and Blackberry was "that's impossible - they must be faking it". Nokia and Ericsson at least did a reality reset within a year and tried to get back in the game, but Blackberry only realized the iPhone was for real 18 months ago - say early 2014, 7 years after the iPhone was introduced.
I'd call that creating, or recreating, a new segment.