Do you think it's just that easy to design and implement chips?
That's funny cause, it applies to both sides. I don't know, but the odds of Intel making it in smartphones are so far not in our favor.
-N-1 process technology -Software and hardware always being months away -The sad state of Atom compared to competitors(both compared to AMD and ARM), and even Intel's own chips -Everyone else embracing ARM and Tegra
If you somehow think Intel being process tech lead by a generation will singlehandedly save the Atom chip, then you are seriously in denial. Like you said, designing and testing chips take time, and making smartphones take even longer. Having an excellent design is just as paramount as having good process technology.
(As always I refer to Smartphones and Tablets, other markets are ignored for this purpose)