It's going to be a long time until everyone in the world can afford a dual-core smartphone with a HD display and an unlimited data plan. In the meantime, there are untapped opportunities for app developers who can make the low-end shine.
Tiny displays, traditional keypads and unreliable 2.5G data connections await those app developers who are brave enough to venture into emerging markets... But on the bright side, the market is enormous and there aren't hundreds of extravagantly VC-funded Silicon Valley startups already competing for it.