The history of mobile device processors is that of two companies, Qualcomm and ARM
This may be convenient for your argument but is very inaccurate. Lots of companies are involved in the history of mobile processors including, but not limited to, TI, Siemens, Alcatel, ST Thomson, Ericsson, Broadcom. Typical filler from Rethink though Wireless Watch is generally more readable than Faultline.
A comparison of Qualcomm and ARM based on their history might be interesting: Qualcomm growing out of the US military industrial complex which guarantee both lucrative research projects and, er, help when licensing them. CDMA didn't become the dominant standard in the US and, er, Korea by chance. ARM grew out of the failure of European manufacturer to compete in the high volume PC business.
In comparison to either Qualcomm or Intel, ARM is a minnow that shouldn't really survive. It's done well because it's viral done right: license ARM for a known quality at an incredibly low price. It's also done well by not diversifying that much. It talks the necessary talk to get journalists to cover it but spends most of its time developing what its vast customer base wants.
Qualcomm continues to supply the US military, where spending is more than then next 20 countries combined. Like Lockheed Martin, Boeing and the rest, no real danger there as long as this continues.