It’s worse than that. Apple had just switched PPC to Intel, and Jobs approached Intel in 2005 to make the iPhone SoC. From Paul Otellini exit interview in 2013

It’s worse than that. Apple had just switched PPC to Intel, and Jobs approached Intel in 2005 to make the iPhone SoC. From Paul Otellini exit interview in 2013 >"We ended up not winning it or passing on it, depending on how you want to view it. And the world would have been a lot different if we'd done it… The thing you have to remember is that this was before the iPhone was introduced and no one knew what the iPhone would do... At the end of the day, there was a chip that they were interested in that they wanted to pay a certain price for and not a nickel more and that price was below our forecasted cost. I couldn't see it. It wasn't one of these things you can make up on volume. And in hindsight, the forecasted cost was wrong and the volume was 100x what anyone thought.” The title of the article is "Paul Otellini's Intel: Can the Company That Built the Future Survive It?” and that is still a good question a decade later. https://archive.is/B0Bbs https://archive.is/B0Bbs