Here's why Apple's iPad business is sinking

Apple’s on top of the world right now, with strong sales across all its product lines — save for the iPad. Sales of the iPad have hit a wall, and while lots of people have different theories as to why that’s the case, Credit Suisse analyst Kulbinder Garcha believes there’s a simple answer: Large phones are to blame.

Based on data from IDC charted for us by Credit Suisse and BI Intelligence, sales of large-screened smartphones (a.k.a. “phablets”) have been growing consistently while tablet sales have been slipping over the last year. After all, why would you buy an iPad when you can buy a big phone that does everything the tablet does, and more?

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