It seems like every new phone that comes out with a touch screen is supposed to be the "iPhone killer".
See: Blackberry Storm, Palm Pre, now the Droid
All of these have/are currently/will soon fail.
Only when these phone developers come out with something different more original, and more useful than the iPhone, will they succeed. Instead of playing catch-up, they should be proactive in their approach and come up with something completely different.
tl,dr: it will fail because of its un-originality