I suggest you read:
http://docs.unity3d.com/Documentation/Manual/OptimizingGraphicsPerformance.html http://docs.unity3d.com/Documentation/Manual/iphone-PracticalGuide.html which explains possible bottlenecks and solutions.
You may think your game is quite "light", but it exceeds several of the recommended mobile
guidelines, e.g.: "not more than several hundred draw calls", "not more than 100 thousand
vertices". Also consider non-graphics aspects - are you making use of lots of physics, for
example?
things that may slow down your application : Lots of rigidbodies, collision-tests, forces
etc. requires more calculations, so more taxing on a mobile processor.
from "http://answers.unity3d.com/" forum