Yes, but Kenwood hasn't innovated with any new revolutionary product in 20 years. The TS-2000 and TS-2000X were the last gasps of real innovation the way that Icom and Yaesu have been picking up the slack cranking out truly NEW innovative amateur products.
Although they have been slow to jump onto the SDR bandwagon, I wouldn't say they are not innovative. Sadly this has hurt them badly because SDR can offer a dramatic price/performance improvement eliminating delicate and expensive components.
But take, for example, the TH-D74. The product concept is briliant, including the possibility of using the built in TNC from a computer using Bluetooth. Other manufacturers either ignore APRS or patch it without bothering to see whether it works or not (Yaesu, I am pointing at the FT3DE).
Comparing the TH-D74 to other offerings looks like two different worlds.
Kenwood: Ok, we want these features, let's make the most of them!
Yaesu: Just throw that onto it.
Right now I wouldn´t call Yaesu innovative. Their FT-818 is the same old design despite the fact that Collins stopped manufacturing mechanical filters. Don't get me wrong, I own a FT-817nd and I love it, but come on!
I really hope Kenwood don´t abandon the ham radio market. Although my HF rig is an IC-7200, I love the way Kenwood polish their product conceptions. Maybe Icom is more risk taking and innovative right now, but Kenwood really polishes them.