Samsung's new smartphone illustrates the limits of innovation at a time when hardware advances have slowed.

The new phone, the Galaxy Note 9, will be faster and will last longer without a recharge. But while earth-shattering new features are in short supply, it will carry an earth-shattering price tag: $1,000.

The minor improvements reflect a smartphone industry that has largely pushed the limits on hardware. Major changes tend to come every few years rather than annually, and this isn't the year for anything revolutionary in the Note.