There are rumors circulating that Intel is currently in talks to acquire Infineon's wireless business. http://www.eweek.com/c/a/Mobile-and-Wireless/Intel-Infineon-...
Intel definitely wants to get into the mobile / cellular business and have made a similar attempt before (search for DSP/C -- now owned by Marvell).
In fact, Intel was even making ARM based application processors in the past (called Xscale and derived from DEC's StrongArm design). Eventually they sold the entire division.
They would love to have a version of Atom powering mobile phones. Right now ARM is the de-facto standard.