iPad Cannibalising Notebook Sales Says Best Buy CEO

Retail giant Best Buy has suggested that Apple's iPad has caused US notebook sales to fall by at least 50 per cent.

According to a report published by the Wall Street Journal, the chief executive officer of Best Buy Brian Dunn has claimed that Apple's iPad has caused a drop in notebook and PC sales in the country by half, forcing retailers to focus on different areas.

"People are willing to disproportionately spend for these devices because they are becoming so important to their lives. We are really positioning the company to be the place where people can come and see best of the connected world," said Dunn, announcing that the iPad will reach 1,093 Best Buy retail outlets by early 2011.

While addressing a press event to report quarterly earnings, Dunn announced 61 per cent increase in profit, despite flat sales in some of its most prominent stores.

Dunn expects a shift in market this holiday season, as Best Buy gears up to cater to the sales of gaming consoles including Microsoft's Xox 360 Kinect along with iPads and Kindle devices.