Exactly -- the key thing is the historical cost structures of the high-end makers makes low-end chip making highly unattractive which was why it was easy for Pa

Exactly -- the key thing is the historical cost structures of the high-end makers makes low-end chip making highly unattractive which was why it was easy for Paul Otellini to say no to Apple to make chips for the iPhone. In the end, low-power chipmakers like ARM have no where else to go but up -- they can slowly move up-market and over time, enjoy the same high margins but at much lower costs relative similar to entrenched players like Intel.