Tablet market to hit $35 billion by 2012, JP Morgan says

If you’re tired of hearing about tablets, we have some bad news for you… they’re not going away any time soon. While repeated failed attempts will undoubtedly trim the number of entrants in the tablet market over the coming months and years, the market itself is poised to explode. JP Morgan said in a note on Monday that it estimates the global tablet market to reach $35 billion next year. More specifically, the firm revised its 2011 tablet revenue forecast from $24.9 billion up to $26.1 billion on sales of 47.9 million units, and its 2012 estimate has been raised to $35.2 billion on sales of 79.6 million units from $34.1 billion. JP Morgan also noted that the tablet market will likely have a negative impact on sales of laptop computers. “We expect tablets to have an increasingly negative impact on PC shipments,” JP Morgan analyst Mark Moskowitz wrote. “More than 35 percent of tablets sold in 2012 will be cannibalistic, particularly as relates to netbooks and notebooks.”

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