This article nailed it. I was one of the founding engineers of this product line.
The volume just wasn't there for margins of these things. With the exception of automotive (which Qualcomm/CSR has it locked down for most major OEMs), IOT margins are pretty low. And if we thought those margins were low, being use to margins in connectivity much lower than app processors, Intel is going to have even a bigger problem... Margin and volume just isn't there, except automotive
Both Broadcom and intel made the mistake of NOT buying CSR and letting Qualcomm buy it. CSR pretty much owns automotive connectivity and high fidelity wireless audio. Automotive has the issue that once you own the SOC, it's pretty hard for a competitor to unseat you, because things take so long to get into production, that Auto OEMs don't really want to switch one supplier out after it's already in there.
http://www.fool.com/investing/general/2016/05/09/why-did-broadcom-ltd-quit-the-internet-of-things.aspx?source=yahoo-2&utm_campaign=article&utm_medium=feed&utm_source=yahoo-2