The Apple iPad has been dubbed the magical tablet by Steve Jobs himself and for a good reason. The iPad has been the most well adopted non-phone electric device ever according to financial analysts at Bernstein Research. Also reported is that the iPad is selling at a rate of 4.5 million units per quarter and if it continues will surpass gaming consoles. The iPad has the possibility of getting its own consumer electronics category next year and taking fourth in most sales after televisions, smartphones, and netbooks.
A March Morgan Stanley survey explained that 44% of consumers in the US planned on buying an iPad instead of a notebook or netbook. Others that had plans to purchase an iPod Touch also went with an iPad instead of an iPod Touch.
"The iPad did not seem destined to be a runaway product success straight tout of the box," Bernstein retail analyst Colin McGranahan said in a note to CNBC. "By any account, the iPad is a runaway success of unprecedented proportion," he added.
It seems as though the magical device was underestimated and is now getting the last laugh as it rounds the corner to selling 11 million units by the end of 2010. Regardless of its faults, the iPad has managed to beat out competition from e-readers, cell phones, iPods, and netbooks. It really is magic.