For any exponential function comes time when its growth cannot be sustained. Smartphones are boring and mature, we haven't had killer app in ages - welcome to the PC market of 2007.
I've been a "mobile is the future of everything" skeptic since the iPhone first came out. Lately I'm feeling slightly vindicated. These things are awesome for navigation and rapid interactions with services and of course chatting. But the totally jailed OS and tiny screen and the rest limits mobile to those kinds of interactions.