When carriers start offering $400 rebates to trade in an old iPhone for a new 6s, people are going to upgrade, no doubt.
http://finance.yahoo.com/news/verizon-planning-generous-trade-in-offer-for-old-iphones-173115526.html
That's bad news for Android phones, where Q and others make more money off of...
Gee. QCOM better come up with the next new "must have" tech toy really fast. OH WAIT! I almost forgot: R&D doesn't contribute to the bottom line, so the JANA/Barry people told SM to axe it!
Yes and the traded in phones are refurbished and resold thereby biasing any chip or royalty revenue. Great for apple, terrible for everyone else.