The Gunners have already signed Mohamed Elneny from FC Basel.
The Gunners have already moved to add a new player this month, with midfielder Mohamed Elneny completing a move from FC Basel.
Some have suggested that the Gunners need more signings than him though, with injury problems having robbed Arsene Wenger of numerous players already this season.
Smith though, says that they don’t need further signigns as they are nearly at full strength already and world-class players are difficult to get in January.
"Danny Welbeck is apparently only three weeks away and that will help them if he comes back in the kind of form he is capable of,” he told Sky Sports.
"Any manager would love to get in a world-class player to give the dressing room a lift, but it's so difficult and I don't think it's going to happen.”
"I think they've got enough. They didn't have Ozil or Sanchez at Stoke and they were able to cope with that, and they're due back soon so they're not far off full strength."
While Smith suggests that Arsenal do not need further signings in January, there is no denying Gunners fans would like to see them arriving at the Emirates.
Arsene Wenger is sure to think differently though, with his side having managed to maintain their title challenge despite a number of injuries to key players over recent months.