Microsoft won the last fight like this and they have dominated our desktops for 15 years (OK, maybe not all HN devotees) and pocketed gazillions.
Apple are ahead right now (manufacturing handsets, selling software, etc), Google are second and Microsoft are lagging behind in third, but this Motorola deal means that Google might be able to pull ahead of Apple for a period and alienated phone manufacturers who are using Android might flock to Microsoft, inflating their sails a little.