Phones today are basically portable computers. The only reason they haven't replaced the PC (Including Macs) completely is they don't have a large screen, mouse, and physical keyboard. The keyboard and mouse problem could be solved easily but the screen might take a few years before they come up with some 3D projection device.
And also the fact they’ll never be powerful enough in the size they come in. They might compete for basic users but those of us that use a lot of processing power, I can’t ever see a smartphone getting close.