I distinctly remember an interview on Win95 launch day where the local news was interviewing a guy in a computer shop about his thoughts. He was unimpressed. He said something like, "Mac* already does this and much better".

When the iPhone launched, my reaction to it was essentially the same as the guy in the computer shop. Boy were we wrong about the impact both would have on the industry!

(* Edit: can't remember if he said Mac or OS/2)