Given that smartphone sales passed PC sales as of 2011 in a sense it did disrupt the computer industry as the focus of innovation is now in the smartphone/tablet space rather than the desktop and server space.

I do think however that saying that it destroyed the handset market is a bit much. The iPhone totally disrupted the embryonic smartphone market but the dumb phone market is still going fairly strong (if in volume rather than profit). The last numbers I saw had a 5:1 ratio between dumb and smartphone sales so there is still a ways to go yet.