From Om's interview with Michael Dell:
Om: Any plans for mobile phones or smartphones?
Dell: We are certainly looking at the whole smartphone category, but I wouldn’t expect anything anytime soon.
Om: With the emergence of Google’s Android, and with Symbian OS and Microsoft Mobile already on the market, do you think that makes it easier for Dell to get into the phone business?
Dell: What you’ve got [are] industry-standard platforms upon which applications are being built and ecosystems are being created, and that kind of building-block architecture gives us all sorts of opportunities.
Om: You can be a big game-changer in this market, right? You can decide to work with Android or Symbian. Is there a desire on your part to work with one over the other?
Dell: We’re not ready to publicly disclose our plans there…we’re kind of working on that.
Dell needs to stick to their knitting on this one: wait until Android shows it has a future, then start selling a extraordinarily capable phone for a reasonable price, a la the Dell E/Mini Inspiron. There's little need for them to break into the smartphone market again until they do so in a way that plays off their production strengths.