I am not going to argue what is innovative or not. But, many companies have no clue how to simply keep their products fresh. Design by giant committees keeps a lot of companies stale, and many get killed by change. RIMM comes to mind, and there are many others. Sure RIMM made an "innovative" new phone OS, but so did Apple and Google. RIMM's corporate structure certainly stifled their ability to innovate within a competitive time frame. Even Google recognized they were missing important new product innovations, which they specifically allocate time for their employees to work on (e.g. Twitter).
Sometimes innovation has an important back-end to make that innovation sustainable/workable. Depositing checks via mobile camera, needs a lot of back-end support. Legacy back ends can be very difficult to innovate around, and that is "invisible" to the user.