I think Intel's major worry with ARM is that simply speaking, ARM don't need their licencees to be particularly profitable at making chips for them to carry on

I think Intel's major worry with ARM is that simply speaking, ARM don't need their licencees to be particularly profitable at making chips for them to carry on designing chips, they just need them to buy new licences. For Intel, having a competitor designing CPUs who can't be undercut directly is a real issue - Intel are not going to be letting Samsung produce Xeon chips under licence in the next 5 years, though I do wonder about Atom ones..