I thought cell phone companies don't appear from nowhere because governments and/or organizations like FCC in the USA are not allowing just anyone to sell radio communication equipment (is that why cellular modems are never open sourced, right?) Is it because of the regulations that we don't see lots of cell phone manufacturers? If it wasn't for that, from this presentation I get the feeling that cellphones could be…
Modules are based around the chipsets but they do the most expensive certification (both FCC and Carrier) work for you. As a purchaser of the module, you pay for this on each module.
Certifying a cellular end device is usually <$50K (depending on number of bands, # of carriers, fallback, etc.). Certifying a new chip-down cellular design can easily exceed $1-2M in just certification and testing costs. Development costs and complexity will also be increased.