I hope Google is not pulling a Blackberry moment. I remember when the iPhone was first announced, BB scrambled to put out press releases saying they have competing products in development. 2 years later the Bold(EDIT: Storm) was released and everyone realized it's just a hastily designed iPhone clone. That marks the end of BB's dominance. >Used to work for BB/RIM
Decades ago intel put out a press about the amazing new tech their CPUs would have. 3 of 5 CPU manufactures gave up. By the time the tech actually arrived, AMD had it as well. The others would have been fine. Sometimes a press release can make all the difference. (Sorry can’t find story that old)
Transmeta released two x86 CPUs a bit after 2000, which ended up being technological failures.
Cyrix released some budget CPUs in the 1990s but had legal issues and ran into financial trouble, eventually ending up as part of VIA.
Centaur Technology developed some CPUs in the 2000s, and eventually became VIA's x86 division. They released efficient low-cost processors, which were reasonably successful on the embedded market. VIA is still around, but doesn't bring out a lot of new products.
I think most of them were killed mostly by the dotcom bubble, and CPUs getting increasingly complex. The market just shifted beneath them. It is rarely a matter of just giving up.