Apple may well release an update cinema display this fall, likely alongside the already-announced updates to the Mac Pro.
The Mac Pro — which was announced as having the capability to drive 4K displays with its powerful GPUs — may also be the only Mac capable of smoothly powering one of these displays. 4K displays are not exactly new: they have been around at the extreme high-end for a few years. These monitors tend to care incredibly high price tags (think upwards of $3,000), and require very powerful computers to run. The 4K display is useful in many professional occupations, including historic Mac strongholds like video and photo editing. Up until this point, no Apple product has been available that satisfies this niche need.
It also seems likely that Apple will keep around the current Cinema Display for use in its portable lineup of Macbooks, and that this 4K Cinema Display will carry a steep price. Even with 4K panels falling in price, they are still significantly more expensive than even the second-highest resolution panels. Hopefully Apple’s presence will help drive the manufacturing process’ complexity down, and thus lower the price for the rest of the market.
In other words, expect a premium desktop monitor for a premium desktop Mac — and also be prepared for a premium price on both products.