Microsoft Innovates Prematurely?

I read somewhere that one of Microsoft's biggest problems in the past has been too innovate before the market is ready or to come to soon-to-be-big markets years before they exist. Examples of this could probably be their early forays into tablets and smartphones.

Do you guys think this is true?

Personally, I think this might be part of problem though I'm less inclined to think that it has been Microsoft's biggest problem.