Best Buy CEO: iPad Cannibalising Laptop Sales By 50%

The CEO of US electronics retailer Best Buy just said the iPad is cannibalising 50 per cent of the company's laptop sales, the Wall Street Journal reports.

When consumers walk into Best Buy now, they don't look at or want laptops, instead they're drawn to the iPad. "People are willing to disproportionately spend for these devices because they are becoming so important to their lives," says CEO Brian Dun.

Bad news for Dell, HP, Acer and Microsoft.