I suspect what Intel missed was that firms would be selling phones in very large volume for c$1000. That price includes enough margin to spend quite a lot on th

I suspect what Intel missed was that firms would be selling phones in very large volume for c$1000. That price includes enough margin to spend quite a lot on the SoC and associated research. When the iPhone launched Steve Ballmer laughed [1] at the price and pushed a $99 competitor with MS software. The phone market was very, very different before the iPhone got real traction. [1] https://www.youtube.com/watch?v=eywi0h_Y5_U https://www.youtube.com/watch?v=eywi0h_Y5_U