It took competitors just 18 months to create a multitude of iPhone copycats. Now, they all have iPhone's remarkable features: multi-touch screen interface, Alice-in-wonderland-like zoom-in/out web browsing, wi-fi, and others. What they don't have is iTunes, both an application and a service. These two components are much harder to immitate than just some clever hardware. Therefore, it's signifcant that top software contenders in this space are Google and Microsoft. Most likely, they will try to commoditize hardware, which is traditionally Apple's biggest strength.

Will iPhone go the way Apple's Lisa went?