Possibly. The so called “smart watches” may see a new kind of applicability they never did before (or were never intended). Perhaps something like smart watches directly syncing with computers, after the ability to send and receive calls are added to the watch itself.
Most likely short term though, little impact will be felt in the smart phone market. The payment plans make it virtually like having a “two year contract” because the cost works out to be about the same, on a monthly basis, once the payment per month is factored in.
It really all depends on whether or not a company can make some kind of receiver of calls (like the smart watch above) much lower in cost than the current phone. People are now too addicted to all the features of a smart phone and also the ability to make and receive calls anywhere.
The age of the pay phone (the phone booth) is what’s dead.