>"Companies who still need high growth to justify their stock price (read: Apple) are distressed about the notion that everybody on the planet who can afford a smart phone already has one"

Not true - India has ~800+ million mobile subscribers and only ~100+ million of them currently have smartphones. So there is a huge market waiting to be tapped - although Apple may still be distressed as 90%+ of these 700 million potential customers are probably going to buy a sub-$100 smartphone made by the likes of Micromax and running Android...