Intel's effort to break into the Mobile market has been unimaginative, even timid. Instead of using their lead in Fab nodes to create game-changers in the Mobile space, they are soliciting Foundry business from bit players !
Remember Jessica....it's never "too late". Moreover the consolidated lead doesn't exist, expecially in the evanescent handset market. I tend not to tie the process with the success of a device and i think Intel is not so naive to hope for success tied to process only. There are other variables.
Look at Qualcomm, because to Mediatek it was constrained to cut off its SOC price list in China, and this is only the beginning of a storm.
It would seem that Intel's "Data center and Internet of Things group revenues increased more than 10% each to $3.5 billion and $539 million, respectively" is a pleasant surprise and may have upward traction in the coming quarters. Intel may have found a niche in the I-o-T business, finally.
It also looks like the share repurchase program is shoring up the recent run up in INTC stock price!