Dell Owner Admits Rapid Rise of Tablets Surprised Him
Michael Dell didn't expect to see businesses adopts tablets instead of PCs so quickly.
As his company goes private via a $24.4 billion deal, Dell founder Michael Dell has admitted that the rapid rise of tablets has surprised him.
The emergence of the tablet market is widely believed to have been the cause of the PC industry's market decline. "I didn't completely see that coming," Dell said, adding that he did not expect to see businesses ditch PCs in favor of adopting tablets in such a short period of time.
During October 2012, tablet display shipments surpassed that of notebooks. In 2013, global tablet shipments are expected to surpass notebooks by approximately 33 million units at over 240 million units.
Dell, meanwhile, was once the dominant force in the PC market. However, its fortunes have continuously declined with emerging technologies. In a bid to revive the company's performance in the market, it recently completed a $24.4 billion deal to take it private.
It was financed by current CEO and founder Michael Dell, private equity firm Silver Lake, and debt financing from a consortium of banks, while Microsoft contributed a $2 billion loan.