June 6, 2005, seemed to be a triumphant moment for Intel. The chipmaker was already dominating the market for processors that powered Windows-based PCs. Then Steve Jobs took the stage at Apple’s World Wide Developers Conference to announce that he was switching the main Windows alternative, Macintosh computers, to Intel chips as well. The announcement cemented Intel’s status as the leading company of the PC era.
There was just one problem: The PC era was about to end. Apple was already working on the iPhone, which would usher in the modern smartphone era. Intel turned down an opportunity to provide the processor for the iPhone, believing that Apple was unlikely to sell enough of them to justify the development costs. LINK