It has been widely reported that Apple’s (AAPL) iPad mini is cannibalizing sales of the company’s full-sized iPad. According to a new survey, however, nearly half of all recent iPad mini buyers are new to the platform, AppleInsider reported. The data comes from Katy Huberty of Morgan Stanley, who said that while the smaller tablet is clearly cannibalizing some sales of the larger iPad, concerns are “overblown.” The analyst’s opinion echoes previously statements shared by Apple CEO Tim Cook, revealing that the company does not “worry about cannibalization of our own product,” adding that “it’s much better for us to do that than for somebody else to do it.” Huberty also notes that the iPad mini is a “key demand driver” and has accounted for 34% of planned iPad purchases.
The survey did find that the iPad 4 is attracting slightly more new users than the iPad mini, however, 56% compared to 47%. The analyst notes that these numbers indicate that the company’s cannibalization risk factor with the iPad mini is “manageable.” Apple’s tablet install base continues to grow faster than any other company and its retention rate of 81% is the strongest in the industry. Better yet, 36% of consumers who do not own a tablet have said they plan to buy an iPad in the future.