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So, why would a manufacturer choose to stockpile (and continue to fit) the older processor?
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Because switching from one to the other isn't as simple as making a slight change to the production line. Software needs to be tested to be sure it works with the new processor. Both HP and Dell have had to put out patches or ROM updates to use the PXA255. Testing and developing software costs money. These days handheld companies are operating on razor-thin profit margins.
There is also the people who already own the handhelds, many of whom will feel like they got a raw deal because they don't have the new chip. I've already seen one comment in the Dell forums from a user saying he was going to "accidentally" run over his Axim so he could get a free replacement with an upgrade.
There will also be people who will buy and return multiple handhelds looking for one with the new chip. This hurts the retailers, as they can't sell an "open-box" model for the same price as a new one.
So while some people will will be happy to get a faster handheld, there will be all kinds of unintended consequences.