The future is mobile. That much we know for sure. But it seems that the operating system world in this market is being rapidly taken over by --again-- Microsoft. The new smart phones are are using WinCE, Symbian or Palm. Linux has barely 1% of this new, smartphone market.
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There's no reason a company (eg Trolltech) can't develop some other graphical environment that runs on linux.
They already have developed one: http://www.trolltech.com/products/qtopia/index.html
It's a framebuffer run interface as opposed to X based